27 Jul 2015
GBP/USD remains resilient after US data, revisits 1.5540
FXStreet (Mumbai) - The bid tone on the GBP/USD pair remained intact, pushing it higher to 1.5540 despite of an upbeat US durable goods report.
Cable ignores rise in core orders
The USD is being offered across the board even though the core durable goods orders beat the estimates to rise 0.8%, its highest since Aug 2014. Moreover, the USD may be suffering due to an unexpected 0.1% drop in shipments of the core capital goods.
Ahead in the day, the pair could be influenced by the Dallas Fed manufacturing index. The focus then would shift on the UK preliminary GDP report due on Tuesday, July 28, which is expected to show an increase of 0.7%.
GBP/USD Technical Levels
The spot currently trades around 1.5525. The immediate resistance is located at 1.5549 (50% of June rally), followed by another resistance at 1.5583 (hourly 200-MA). On the flip side, support is seen at 1.55 handle and 1.5467 (Friday’s low).
Cable ignores rise in core orders
The USD is being offered across the board even though the core durable goods orders beat the estimates to rise 0.8%, its highest since Aug 2014. Moreover, the USD may be suffering due to an unexpected 0.1% drop in shipments of the core capital goods.
Ahead in the day, the pair could be influenced by the Dallas Fed manufacturing index. The focus then would shift on the UK preliminary GDP report due on Tuesday, July 28, which is expected to show an increase of 0.7%.
GBP/USD Technical Levels
The spot currently trades around 1.5525. The immediate resistance is located at 1.5549 (50% of June rally), followed by another resistance at 1.5583 (hourly 200-MA). On the flip side, support is seen at 1.55 handle and 1.5467 (Friday’s low).