GBP/USD claws back losses as traders eye US retail sales data

<p>With some large falls in GBP/USD and USD/JPY yesterday and not much in the way of data moving releases, we see GBP/USD and USD/JPY claw […]</p>

With some large falls in GBP/USD and USD/JPY yesterday and not much in the way of data moving releases, we see GBP/USD and USD/JPY claw back some of that overnight.

The market is still trying to digest the disappointing non-farm payrolls from Friday, I believe, with new doubts that the Fed will halt the tapering process. But the general mood is that this will continue as planned and with two Fed hawks – Plosser and Fisher – talking later this evening, they may hint at this.

With US retail sales due out as well: expecting 2.1% barring any shock data from the cold weather in the US, which was pinned on the disappointing payroll data on Friday.

 

EUR/USD

Supports 1.3630 1.3570 1.3550 | Resistance 1.3680 1.3725 1.3750

 


USD/JPY

Supports 102.90 102.35 102.10  | Resistance 103.80 104.30 105.00

 



GBP/USD

Supports 1.6335 1.6305 1.6220  | Resistance 1.6425 1.6460 1.6500

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