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25 Jun 2013
GBP/USD holding in positive territory after US data
FXstreet.com (New York) - The GBP/USD foreign exchange rate traded very unevely after the earlier release of upbeat US data, still clinging to narrow gains Tuesday.
GBP/USD at crossroads eying key 1.5470 level
According to the ICN.com Technical Analyst Team, “The GBP/USD moved to the upside yesterday, but remained limited below Linear Regression Indicators and below 1.5470. Prolonged stability below this referred level might bring bearishness back and Risk/Reward Ratio is appropriate, as the pair is close to key levels 1.5470.”
Despite the recent volatility, the GBP/USD foreign exchange rate has now moved to 1.5444 Tuesday, advancing at a tepid +0.06% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, pair will face resistances at 1.5496 then 1.5542, and 1.5618. On the decline, a break below the 1.5374 handle will initiate supports at 1.5298 and 1.5252.
GBP/USD positive data release shakes up exchange rate
Earlier in the United States, Durable Goods Orders (May) grew +3.6%, beating expectations of only +3.0%. Moreover, Durable Goods ex-Transportation (May) were reported at +0.7%, exceeding estimates of 0.0%. Finally the Housing Price Index (MoM) came in at +0.7%, compared with a figure of +1.5% previously.
GBP/USD at crossroads eying key 1.5470 level
According to the ICN.com Technical Analyst Team, “The GBP/USD moved to the upside yesterday, but remained limited below Linear Regression Indicators and below 1.5470. Prolonged stability below this referred level might bring bearishness back and Risk/Reward Ratio is appropriate, as the pair is close to key levels 1.5470.”
Despite the recent volatility, the GBP/USD foreign exchange rate has now moved to 1.5444 Tuesday, advancing at a tepid +0.06% at the time of writing. Consistent with the calculations of the Mataf.net analyst team, pair will face resistances at 1.5496 then 1.5542, and 1.5618. On the decline, a break below the 1.5374 handle will initiate supports at 1.5298 and 1.5252.
GBP/USD positive data release shakes up exchange rate
Earlier in the United States, Durable Goods Orders (May) grew +3.6%, beating expectations of only +3.0%. Moreover, Durable Goods ex-Transportation (May) were reported at +0.7%, exceeding estimates of 0.0%. Finally the Housing Price Index (MoM) came in at +0.7%, compared with a figure of +1.5% previously.