27 Jun 2014
GBP/USD holds onto 1.70 handle into closing hours
FXStreet (Guatemala) - GBP/USD is trading at 1.7020, down -0.04% on the day, having posted a daily high at 1.7053 and low at 1.7007.
GBP/USD is holding onto the 1.70 handle on a day when in London we got the third print of UK’s Q1 GDP that was unrevised, remaining at 0.8% Q/Q and in line with consensus. “Business investment was revised from 2.7% Q/Q to 5.0% Q/Q, but the current account widened more than expected. The April index of services print, which feeds directly into Q2 GDP was in line with expectations, rising 0.3% M/M”, explained analysts at TD Securities.
Meanwhile, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.
GBP/USD Levels
Spot is presently trading at 1.7020, and next resistance can be seen at 1.7022 (Hourly 20 EMA), 1.7027 (Daily Open), 1.7028 (Weekly High), 1.7040 (Monthly High) and 1.7040 (Annual High). Next support to the downside can be found at 1.7013 (Daily Classic PP), 1.7007 (Daily Low), 1.7003 (Hourly 100 SMA), (Hourly 200 SMA) and 1.6999 (Weekly Classic PP).
GBP/USD is holding onto the 1.70 handle on a day when in London we got the third print of UK’s Q1 GDP that was unrevised, remaining at 0.8% Q/Q and in line with consensus. “Business investment was revised from 2.7% Q/Q to 5.0% Q/Q, but the current account widened more than expected. The April index of services print, which feeds directly into Q2 GDP was in line with expectations, rising 0.3% M/M”, explained analysts at TD Securities.
Meanwhile, the hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bearish.
GBP/USD Levels
Spot is presently trading at 1.7020, and next resistance can be seen at 1.7022 (Hourly 20 EMA), 1.7027 (Daily Open), 1.7028 (Weekly High), 1.7040 (Monthly High) and 1.7040 (Annual High). Next support to the downside can be found at 1.7013 (Daily Classic PP), 1.7007 (Daily Low), 1.7003 (Hourly 100 SMA), (Hourly 200 SMA) and 1.6999 (Weekly Classic PP).