25 Jun 2014
GBP/USD on the 1.7000 reconquest
FXStreet (San Francisco) - The Sterling is rising against the US Dollar right now as investors are hurting the USD amid the ugly revision to the downside in the US q1 GDP number.
The US reported a 2.9% decline in the economy in the 1Q, the worst figure since the first quarter of 2009. Durable goods orders declined 1.0% in May, worst than expected too.
Currently, GBP/USD is trading at 1.6992, up 0.05% on the day, having posted a daily high at 1.7004 and low at 1.6952. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD sentiment
According to the market, there are sell orders clustered at 1.7010/20. According to Gerry Davies from FXBeat, "Sterling still seemingly trying to shake off yesterday's dovish BOE comments."
Above 1.7000, the GBP/USD would face resistances at 1.7025 and 1.7050. On the downside, 1.6965, 1.6950 and 1.6925 are supports.
The US reported a 2.9% decline in the economy in the 1Q, the worst figure since the first quarter of 2009. Durable goods orders declined 1.0% in May, worst than expected too.
Currently, GBP/USD is trading at 1.6992, up 0.05% on the day, having posted a daily high at 1.7004 and low at 1.6952. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
GBP/USD sentiment
According to the market, there are sell orders clustered at 1.7010/20. According to Gerry Davies from FXBeat, "Sterling still seemingly trying to shake off yesterday's dovish BOE comments."
Above 1.7000, the GBP/USD would face resistances at 1.7025 and 1.7050. On the downside, 1.6965, 1.6950 and 1.6925 are supports.