GBP/USD has been drifting up from the lows of the day, after a drop from 1.5380 territories post UK GDP data and subsequent market positioning in the pair. The US data offered a decent Durable Goods Oder for Jun printing 4.2% against a consensus of just 0.5% but lower on the previous month that read 5.2%. The Initial Jobless Claims arrived in the red at 343K and more than the consensus of 340K and previous 336k. GBP/USD a mixed bag Danske Bank’s Technical Update offers 20d ma at 1.5161, 50d ma at 1.5288, 200 d ma at 1.5580 and RSI (9) printing 63.91. Supports are 1.5270, 1.5280, and 1.5297, while at the time of writing Spot is 1.5310. Resistances are 1.5320, 1.5397 1.5436, 1.5442, and 1.5480. Failures to the topside will bring about the bear’s attentions to the 1.5270 accelerated uptrend and support area. A close here is required below to alleviate the upside pressure and avert continued gains.
Posted on: Thu, 25 Jul 2013 18:50:13 +0000
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