25 Jun 2013
GBP/USD testing higher
FXstreet.com (London) - GBP/USD was testing 1.5450/60 ahead the only piece of UK data for today that came in the form of BBA Mortgage Approvals.
GBP/USD remains bid
GBP/USD remains bid on the release of a better expected set of Mortgage Approvals that arrived as 36.1k vrs a consensus for 33.1k for May.
GBP/USD capped
Karen Jones at Commerzbank said that near term rallies are expected to remain capped 1.5470/1.5550 for an immediate downside bias to be maintained. Meanwhile, indicators are slightly bullish and we are trading above the pivot of 1.5415. RSI is reading 14 while SMA100 at 1.5481 offers resistance.
GBP/USD remains bid
GBP/USD remains bid on the release of a better expected set of Mortgage Approvals that arrived as 36.1k vrs a consensus for 33.1k for May.
GBP/USD capped
Karen Jones at Commerzbank said that near term rallies are expected to remain capped 1.5470/1.5550 for an immediate downside bias to be maintained. Meanwhile, indicators are slightly bullish and we are trading above the pivot of 1.5415. RSI is reading 14 while SMA100 at 1.5481 offers resistance.