Forex: GBP/USD keeps pushing higher, eyes on 1.5100

Buying interest plus the triggering of stop-orders are pushing the sterling to the boundaries of the ley level at 1.5100 on Thursday, as the risk appetite is spiraling among traders.
Fanning the flames, the sell-off in the USD is intensifying at the same time, fuelling the upside.

At the moment, the cross is up 1.11% at 1.5087 with the next resistance at 1.5148 (MA21d) ahead of 1.5156 (high Mar.6).
On the flip side, a breach of 1.4892 (low Mar.13) would expose 1.4832 (low Mar.12).

Mar 14, 2013

Forex Flash: UK Budget preview - Nomura

Looking towards the pending UK budget, Nomura economists Philip Rush and Andy Chaytor note that further disappointment at demand has brought some slight fiscal slippage, which is compounded by “one-off” factors in the short term.

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Mar 14, 2013

Euro bears recede, for how long?

The euro hit yet a lower low versus the dollar on Thursday as the shared currency was weighed by disappointing EMU employment data. However, the pair reversed losses during the American session as lower-than-expected jobless claims boosted risk appetite among financial markets, offsetting the negative effect of the growing divergence between the US and the eurozone economies.

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