1 Aug 2013
GBP/USD drops to 1.5200
FXstreet.com (Barcelona) - GBP/USD fell below 1.5200 to 1.5191 from 1.5233 on the release of US data.
Initial Jobless Claims (Jul 26) improved and ISM Manufacturing PMI (Jul) are next in focus while we listen to the dovish press conference from the ECB. According to the Labour Department, the Americans that filed in their first initial claims for regular state unemployment-insurance benefits fell by 19K last week to a seasonally adjusted 326K in the week ended July 26, below expectations at 346K and coming from 345K (revised) in the previous print.
GBP/USD continues to weigh on downside
Supports are ascending from 1.5051, 1.5080, 1.5125, 1.5152 1.5179 Resistances are 1.5220, 1.5270 1.5295 1.5329. Intraday rallies are likely to remain capped by the 1.5265/1.5300 band. If 1.5435 is eroded, one might allow for further upside gains to 1.5551 the 78.6% retracement.
Initial Jobless Claims (Jul 26) improved and ISM Manufacturing PMI (Jul) are next in focus while we listen to the dovish press conference from the ECB. According to the Labour Department, the Americans that filed in their first initial claims for regular state unemployment-insurance benefits fell by 19K last week to a seasonally adjusted 326K in the week ended July 26, below expectations at 346K and coming from 345K (revised) in the previous print.
GBP/USD continues to weigh on downside
Supports are ascending from 1.5051, 1.5080, 1.5125, 1.5152 1.5179 Resistances are 1.5220, 1.5270 1.5295 1.5329. Intraday rallies are likely to remain capped by the 1.5265/1.5300 band. If 1.5435 is eroded, one might allow for further upside gains to 1.5551 the 78.6% retracement.