15 Jul 2015
GBP/USD supported by 38.2% Fib level ahead of UK data
FXStreet (Mumbai) - The GBP/USD pair is being supported by 1.5640 (38.2% Fib R of June rally) ahead of the data in the UK, which could show average hourly earnings rose at a faster rate in June.
GBP supported by hawkish Carney and weak US data
The GBP remains supported by the hawkish comments from the BOE’s Carney and Miles on Tuesday. The dismal US advance retail sales released on Tuesday also keep the cable well supported above 1.5640.
The cable traders now look towards the UK average hourly earnings data due for release today. Earnings ex-bonus are expected to rise 3.0% from 2.7% in May and earnings including bonus are seen rising 3.3% from 2.7% in May. Meanwhile, the unemployment rate is seen remaining unchanged at 5.5% in May.
GBP/USD Technical Levels
The spot currently trades around 1.5645. The immediate resistance is located at 1.5650, above which the pair could target 1.57. On the other hand, support is seen at 1.5640 (38.2% Fib R of June rally) and 1.56 levels.
GBP supported by hawkish Carney and weak US data
The GBP remains supported by the hawkish comments from the BOE’s Carney and Miles on Tuesday. The dismal US advance retail sales released on Tuesday also keep the cable well supported above 1.5640.
The cable traders now look towards the UK average hourly earnings data due for release today. Earnings ex-bonus are expected to rise 3.0% from 2.7% in May and earnings including bonus are seen rising 3.3% from 2.7% in May. Meanwhile, the unemployment rate is seen remaining unchanged at 5.5% in May.
GBP/USD Technical Levels
The spot currently trades around 1.5645. The immediate resistance is located at 1.5650, above which the pair could target 1.57. On the other hand, support is seen at 1.5640 (38.2% Fib R of June rally) and 1.56 levels.