Intra-day Market Moving News and Views (GBP/USD)
GBP/USD - ....... The British pound went through a
roller-coaster session yesterday as despite initial spike up to 1.4664
(fat finger), price swiftly dropped to 1.4493 at European open.
Later, cable staged a recovery to 1.4609 in European morning before retreating again to 1.4526 in New York morning and continued to trade in sideways manner.
Pay attention to release of UK industrial output m/m and manufacturing output m/m at 08:30GMT.
Street forecasts are 0.0% and 0.0% vs previous readings of 0.3% and 0.1% respectively.
Offers are now seen at 1.4570/80 and more above at 1.4590/00 with stops building up above there whilst initial bids are noted at 1.4470/80, suggesting further choppy trading would be seen.