23 Aug 2013
GBP/USD bounces from lows
FXstreet.com (Barcelona) - GBP/USD had spiked up to print a high so far of 1.5632 after the release of UK data this morning but this has been short lived.
GBP/USD has dumped through the big figure into 1.5539 the low. Currently it has recovered to 1.5560 on US data this afternoon in New Home Sales. Some analysts had expected new home sales to fall by just 2.8% M/M in July (mkt -2.0%), giving back some of the big 8.3% increase from the month before. The numbers came in 0.394M vs 0.485M consensus and the change was -13.4% which now takes the pair up 30 pips higher to challenge 1.5580 resistance.
GBP/USD a negative bias
GBP/USD is still looking heavy from the failure of the 200w MA and June highs at 1.5750. The pair is consolidated with the 20 DMA at 1.5452, the 50 DMA 1.5346, and the 200 DMA at 1.5518. Failure there opens a target for the July high 1.5432. RSI (9) reads 59.67. Supports are ascending from 1.5497, 1.5510, 1.5536, 1.55/5060, and 1.5605. Spot is currently 1.5561 while resistances are 1.5580/90, 1.5600, 1.5637 1.5662, 1.5696 and 1.5723.
GBP/USD has dumped through the big figure into 1.5539 the low. Currently it has recovered to 1.5560 on US data this afternoon in New Home Sales. Some analysts had expected new home sales to fall by just 2.8% M/M in July (mkt -2.0%), giving back some of the big 8.3% increase from the month before. The numbers came in 0.394M vs 0.485M consensus and the change was -13.4% which now takes the pair up 30 pips higher to challenge 1.5580 resistance.
GBP/USD a negative bias
GBP/USD is still looking heavy from the failure of the 200w MA and June highs at 1.5750. The pair is consolidated with the 20 DMA at 1.5452, the 50 DMA 1.5346, and the 200 DMA at 1.5518. Failure there opens a target for the July high 1.5432. RSI (9) reads 59.67. Supports are ascending from 1.5497, 1.5510, 1.5536, 1.55/5060, and 1.5605. Spot is currently 1.5561 while resistances are 1.5580/90, 1.5600, 1.5637 1.5662, 1.5696 and 1.5723.