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26 Jun 2013
GBP/USD trading at support
FXstreet.com (New York) - The GBP/USD technical pair managed to rally higher and recovery off of earlier lows (1.5349), however this movement was cut short, leading to stagnation.
Earlier today in the United States, Gross Domestic Product Annualized (Q1) came in at only +1.8%, missing expectations of +2.4%. Moreover, the Gross Domestic Product Price Index was reported at +1.3%, beating estimates of +1.1%. Finally, Core Personal Consumption Expenditures (QoQ) grew +1.3% in Q1, matching projections.
GBP/USD bearishness valid below 1.5470
“The GBP/USD dropped again after failing to stabilize above 1.5470 and now trading with negative bias in an attempt to touch 50% correction at 1.5370. Breaking 1.5375 is significant to prove the extension of the downside move, meanwhile trading below 1.5470 keeps the bearish possibility.” warns the Technical Analyst Team at ICN.com.
GBP/USD trading at support
Presently, the GBP/USD is still operating negatively at 1.5380 in these moments, incurring a loss of -0.26% during US trading. The Mataf.net analyst team points to the next levels of supportive correction at 1.5386, ahead of 1.5351, and finally 1.5306. Conversely, the pair will face resistance at 1.5466, onto 1.5511, and eventually 1.5546.
Earlier today in the United States, Gross Domestic Product Annualized (Q1) came in at only +1.8%, missing expectations of +2.4%. Moreover, the Gross Domestic Product Price Index was reported at +1.3%, beating estimates of +1.1%. Finally, Core Personal Consumption Expenditures (QoQ) grew +1.3% in Q1, matching projections.
GBP/USD bearishness valid below 1.5470
“The GBP/USD dropped again after failing to stabilize above 1.5470 and now trading with negative bias in an attempt to touch 50% correction at 1.5370. Breaking 1.5375 is significant to prove the extension of the downside move, meanwhile trading below 1.5470 keeps the bearish possibility.” warns the Technical Analyst Team at ICN.com.
GBP/USD trading at support
Presently, the GBP/USD is still operating negatively at 1.5380 in these moments, incurring a loss of -0.26% during US trading. The Mataf.net analyst team points to the next levels of supportive correction at 1.5386, ahead of 1.5351, and finally 1.5306. Conversely, the pair will face resistance at 1.5466, onto 1.5511, and eventually 1.5546.