27 Jun 2013
GBP/USD testing the support
FXstreet.com (London) - GBP/USD has brker 1.5300 psychological supported area on weaker than forcasted UK GDP.
GBP/USD has started to drop on a poor set of key UK figures, in the main GDP will be in focus. GDP came in at 0.3% vrs 0.6% yoy and expectations of 0.6%. Month on month were in line, but coupled with a widening of the Current Account, GBP/USD looks set to move towards the June lows around 1.5200.
GBP/USD has sold off
Karen Jones at Commerzbank said that GBP/USD has sold off to the top of its cloud located at 1.5275 today. She continues to view this as an interim top for the market. She targets the support line at 1.5073. The base of the daily cloud at 1.5218 may offer support en route.
GBP/USD has started to drop on a poor set of key UK figures, in the main GDP will be in focus. GDP came in at 0.3% vrs 0.6% yoy and expectations of 0.6%. Month on month were in line, but coupled with a widening of the Current Account, GBP/USD looks set to move towards the June lows around 1.5200.
GBP/USD has sold off
Karen Jones at Commerzbank said that GBP/USD has sold off to the top of its cloud located at 1.5275 today. She continues to view this as an interim top for the market. She targets the support line at 1.5073. The base of the daily cloud at 1.5218 may offer support en route.