27 Jun 2013
GBP/USD hits low 1.5220
FXstreet.com (London) - GBP/USD has continued to move lower, sighting 1.5200.
GBP/USD has suffered further losses over the course of US economic data releases printing positively for the economy. Personal income (MoM) (May) came in at 0.5% vts 0.2% expected vrs 0.1% previous while Pending Home Sales (YoY) came in 12.1% and rose month on month 6.7%, a much better number than -0.5% previous.
GBP/USD to break 1.5200?
Let’s wait to hear what FOMC member Powell and Fed’s Dudley have to say this afternoon, but meanwhile, Karen Jones, analyst at Commerzbank, said that GBP/USD has sold off to the top of its cloud and said they target the support line at 1.5073. The base of the daily cloud at 1.5218 may offer support en route.
GBP/USD has suffered further losses over the course of US economic data releases printing positively for the economy. Personal income (MoM) (May) came in at 0.5% vts 0.2% expected vrs 0.1% previous while Pending Home Sales (YoY) came in 12.1% and rose month on month 6.7%, a much better number than -0.5% previous.
GBP/USD to break 1.5200?
Let’s wait to hear what FOMC member Powell and Fed’s Dudley have to say this afternoon, but meanwhile, Karen Jones, analyst at Commerzbank, said that GBP/USD has sold off to the top of its cloud and said they target the support line at 1.5073. The base of the daily cloud at 1.5218 may offer support en route.