FxWirePro: GBP/USD neutral near-term, scope for downward resumption
Sterling inched higher on Wednesday after data showed claims for unemployment benefit in Britain unexpectedly fell in July, but gave up gains as traders waited for possible clues on the timing of an interest rate increas…
Sterling inched higher on Wednesday after data showed claims for unemployment benefit in Britain unexpectedly fell in July, but gave up gains as traders waited for possible clues on the timing of an interest rate increase from the Federal Reserve.
Investors awaited the minutes, due at 2:00 p.m. ET (1800 GMT), for hints on when the Fed would next raise rates, in light of New York Fed President William Dudley's hawkish comments on Tuesday.
To the upside, the strong resistance can be seen at 1.3150, a break above this level would expose to cable to next resistance level at 1.3200.
To the downside major support can be seen at 1.2992, a break below will open the door towards next level at 1.2933.
