GBP/USD makes fresh daily lows after US data

GBP/USD inched a tad lower and printed marginal new lows for the day, as the dollar received a mild boost from better-than-expected US durable goods orders and initial jobless claims data.

GBP/USD, that was already trading below 1.3200 before the data, stretched to a fresh low of 1.3174 before finding support. The pair was last trading at 1.3190, recording a 0.29% loss on Thursday, following three straight days of gains.

US durable goods orders rebounded in July, rising 4.4%, following a 4.2% fall in June and above the 3.5% increase expected. Meanwhile, jobless claims edged lower to 261K in the week ended Aug 20. However, the dollar barely reacted to upbeat data as investors remain wary ahead of Fed’s yellen speech tomorrow in Jackson Hole.

GBP/USD technical levels 

As for technical levels, immediate  supports are seen at 1.3160 (Aug 24 low), 1.3108 (21-day SMA), 1.3086 (10-day SMA) and 1.2978 (Aug 17 low). On the other hand, resistances could be found at 1.3300/01 (psychological level/50-day SMA), 1.3370 (Aug 3 high) and 1.3400 (psychological level).