19 Feb 2015
UK CBI data help stabilize the GBP/USD pair
FXStreet (Mumbai) - An upbeat UK CBI Total orders data for February helped the GBP/USD stabilize around 1.5445 levels. Earlier today, the pair had declined to a low of 1.5429 from a high of 1.5463.
GBP/USD: back above hourly 100-MA
The pair rose back above the hourly 100-MA located at 1.5439 levels after the Confederation of British Industry (CBI) Industrial Trends Orders for Febraury, a leading indicator of business conditions, came-in at 10, beating the estimate of 6, and up from the previous month’s figure of 4. The pair inched to 1.5450 levels from the pre-data level of 1.5936.
Focus now shifts to the US weekly jobless claims data due for release later today.
GBP/USD Technical Levels
The pair has an immediate support at 1.5419, under which losses could be extended to 1.5377 levels. On the flip side, resistance is seen at 1.5472 and 1.55 levels.
GBP/USD: back above hourly 100-MA
The pair rose back above the hourly 100-MA located at 1.5439 levels after the Confederation of British Industry (CBI) Industrial Trends Orders for Febraury, a leading indicator of business conditions, came-in at 10, beating the estimate of 6, and up from the previous month’s figure of 4. The pair inched to 1.5450 levels from the pre-data level of 1.5936.
Focus now shifts to the US weekly jobless claims data due for release later today.
GBP/USD Technical Levels
The pair has an immediate support at 1.5419, under which losses could be extended to 1.5377 levels. On the flip side, resistance is seen at 1.5472 and 1.55 levels.