30 Aug 2013
GBP/USD creeps north; reversal consolidating?
FXstreet.com (Chicago) - GBP/USD consolidates reversal but is unable to recover earlier losses. Below the 155.00 zone, price action indicates volatility throughout the day after plethora of data released in both regions.
Fears easing off, France oldest US ally?
US Secretary of State John Kerry stated France is the oldest US ally after the UK backed off from a military strike in Siria last night in Europe. After concluding the chemical attack came from the government, the US representative stated intervention will be minimal. At the moment, US stocks trade with losses with the Dow down 0.29%, the Nasdaq losing 0.81% and the S&P 500 down 0.37%.
GBP/USD Technical Levels – bearish short-term
Price action reveals news reactions from market participants after UK data releases and US data releases. UK facts indicate a decline in nationwide housing prices at 3.5% s. previous 3.9% with an increment in mortgage approvals and an increment in net lending to individuals. Despite positive data, the sentiment remains bearish according to the FXstreet.com trend index, reporting the pair as strongly bearish on one-hour timeframe analysis. Trading at 154.85, the pair navigates between supports at 1.5479 (August 29th lows), 1.5447 (July 25th highs) ahead of 1.5425 (August 28th lows) and resistances at 1.5496 (August 15th lows), 1.5517 (August 29th highs) followed by 1.5544 (August 29th highs).
Fears easing off, France oldest US ally?
US Secretary of State John Kerry stated France is the oldest US ally after the UK backed off from a military strike in Siria last night in Europe. After concluding the chemical attack came from the government, the US representative stated intervention will be minimal. At the moment, US stocks trade with losses with the Dow down 0.29%, the Nasdaq losing 0.81% and the S&P 500 down 0.37%.
GBP/USD Technical Levels – bearish short-term
Price action reveals news reactions from market participants after UK data releases and US data releases. UK facts indicate a decline in nationwide housing prices at 3.5% s. previous 3.9% with an increment in mortgage approvals and an increment in net lending to individuals. Despite positive data, the sentiment remains bearish according to the FXstreet.com trend index, reporting the pair as strongly bearish on one-hour timeframe analysis. Trading at 154.85, the pair navigates between supports at 1.5479 (August 29th lows), 1.5447 (July 25th highs) ahead of 1.5425 (August 28th lows) and resistances at 1.5496 (August 15th lows), 1.5517 (August 29th highs) followed by 1.5544 (August 29th highs).