21 Nov 2013
GBP/USD eases to 1.6120
FXstreet.com (Edinburgh) - After hitting fresh session highs just above 1.6140, the GBP/USD is now retreating to the 1.6125/20 post-US data.
GBP/USD capped by 1.6140
The pair’s bullish momentum seems to have run out of steam in the vicinity of 1.6140 on Thursday, dragged lower by a better tone from the greenback. Data wise in the UK, the public sector figures came in above forecasts, with the Public Sector Net Borrowing climbing to £6.383 billion during October. Releases in the US economy were USD-supportive, showing lower Initial Claims (323K vs. 344K prev.) and Core Producer Prices above estimates.
GBP/USD levels to consider
At the moment the pair is up 0.14% at 1.6130 with the next hurdle at 1.6178 (high Nov.20) followed by 1.6207 (high Oct.28) and then 1.6248 (high Oct.25). On the downside, a breach of 1.6072 (low Nov.21) would open the door to 1.6068 (MA30d) and then 1.6060 (low Nov.19).
GBP/USD capped by 1.6140
The pair’s bullish momentum seems to have run out of steam in the vicinity of 1.6140 on Thursday, dragged lower by a better tone from the greenback. Data wise in the UK, the public sector figures came in above forecasts, with the Public Sector Net Borrowing climbing to £6.383 billion during October. Releases in the US economy were USD-supportive, showing lower Initial Claims (323K vs. 344K prev.) and Core Producer Prices above estimates.
GBP/USD levels to consider
At the moment the pair is up 0.14% at 1.6130 with the next hurdle at 1.6178 (high Nov.20) followed by 1.6207 (high Oct.28) and then 1.6248 (high Oct.25). On the downside, a breach of 1.6072 (low Nov.21) would open the door to 1.6068 (MA30d) and then 1.6060 (low Nov.19).