29 Jul 2013
GBP/USD making new lows
FXstreet.com (London) - GBP/USD has continued to drop while we approach the US open.
GBP/USD is losing ground ahead of key news releases coming up later on in the week. US pending home sales is first and released at 2GMT, then we have US Q2 GDP, FOMC, PMI’s and BoE. Research Teams at TD Securities said, overall, they don’t see much potential for central banks to veer too far from their current messages, but on the data front they see the potential for upside surprises in Europe and the UK, and on– or below consensus prints for US data.
GBP/USD eyes 50d ma
GBP/USD is currently testing1.5350, and there after 1.5325 will offer support before the 50d ma at 1.5296. Resistances are 1.5397 1.5436, 1.5442, and 1.5480. Failures to the topside will bring about the bear’s attentions to the 1.5270 accelerated uptrend and support area. A close here is required below to alleviate the upside pressure and avert continued gains.
GBP/USD is losing ground ahead of key news releases coming up later on in the week. US pending home sales is first and released at 2GMT, then we have US Q2 GDP, FOMC, PMI’s and BoE. Research Teams at TD Securities said, overall, they don’t see much potential for central banks to veer too far from their current messages, but on the data front they see the potential for upside surprises in Europe and the UK, and on– or below consensus prints for US data.
GBP/USD eyes 50d ma
GBP/USD is currently testing1.5350, and there after 1.5325 will offer support before the 50d ma at 1.5296. Resistances are 1.5397 1.5436, 1.5442, and 1.5480. Failures to the topside will bring about the bear’s attentions to the 1.5270 accelerated uptrend and support area. A close here is required below to alleviate the upside pressure and avert continued gains.