Forex: GBP/USD dips below 1.5300

FXstreet.com (Córdoba) - The British pound weakened slightly on Monday and backed away from its Friday's peak of 1.5362 versus the greenback. Having lost over 60 pips from highs, GBP/USD is currently trading around 1.5290, down 0.3% on the day, having set a low of 1.5282 in recent dealings.

From a technical view, Valeria Bednarik, chief analyst at FXstreet.com notes that the GBP/USD holds the positive tone in 4-hour chart and retracements up to 1.5220 shouldn't affect the bias. The analyst sees immediate supports at 1.5290, 1.5260 and 1.5220, while she locates resistances at 1.5355, 1.5390 and 1.5430.

Apr 8, 2013

Commodities Brief – Precious metals bounce during US trading, crude holds above 93.00

Gold prices have been trading sideways, mitigating the fall that had roiled the precious metal during last weeks bloodletting. This week has gotten off to a different start entirely however, as losses were contained in the 1574 region, where a subsequent minor bounce has the yellow metal trading at USD $1575.42 per oz. during US trading Monday. In terms of the technicals, the RSI and MACD are illustrating a strong bullish divergence – this could lead to a modest bounce in the short-term and for this week.

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Apr 8, 2013

Forex Flash: EUR/USD drifting towards 1.3085 - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes that the wave of investment from Japanese investors seems largely gone by if price action is of any guide.

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