25 Jul 2013
GBP/USD hovering over 1.5300
FXstreet.com (Edinburgh) -The sterling managed to leave session lows around 1.5260 and push the GBP/USD to trade back around the 1.5300 handle on Thursday.
GBP/USD vs. US data
Despite this mild rebound, the pair looks set to remain under pressure ahead of the US docket due later, as the greenback may find extra support if Initial Claims and US Durable Goods Orders exceed expectations. “The BOE Is likely to try and keep a lid on Gilt yields, and after the GDP report Gilt yields have pulled back, which is also weighing on the pound… We expect GBPUSD to trade in a range between 1.5290 – the 50-day sma, and 1.5380 – the base of the daily cloud”, noted Kathleen Brooks, Research Director at Forex.com.
GBP/USD critical levels
The pair is now losing 0.13% at 1.5294 facing the next support at 1.5264 (low Jul.25) followed by 1.5258 (low Jul.22) and then 1.5248 (MA10d). On the flipside, a breakout of 1.5386 (high Jul.25) would open the door to 1.5390 (high Jul.24) and finally 1.5393 (high Jul.23).
GBP/USD vs. US data
Despite this mild rebound, the pair looks set to remain under pressure ahead of the US docket due later, as the greenback may find extra support if Initial Claims and US Durable Goods Orders exceed expectations. “The BOE Is likely to try and keep a lid on Gilt yields, and after the GDP report Gilt yields have pulled back, which is also weighing on the pound… We expect GBPUSD to trade in a range between 1.5290 – the 50-day sma, and 1.5380 – the base of the daily cloud”, noted Kathleen Brooks, Research Director at Forex.com.
GBP/USD critical levels
The pair is now losing 0.13% at 1.5294 facing the next support at 1.5264 (low Jul.25) followed by 1.5258 (low Jul.22) and then 1.5248 (MA10d). On the flipside, a breakout of 1.5386 (high Jul.25) would open the door to 1.5390 (high Jul.24) and finally 1.5393 (high Jul.23).