25 Mar 2015
GBP/USD: fresh session high and retreat
FXStreet (Mumbai) - The GBP/USD pair rose to a fresh session high of 1.4952, before retreating slightly to 1.4927 after the details of the durable goods orders reports revealed an up tick in rebound in business investment.
Rise in business investment could support USD
The USD made a slight comeback after the details of the report showed the Nonmilitary capital goods excluding aircraft (business investment) used to calculate GDP increased 0.2%, after falling a revised 0.4% in January. Moreover, a rebound in business investment is slightly positive, as it may provide lift to the economy.
The pair had shot higher to 1.4952 immediately after the release of an unexpectedly weak headline figure - -1.2% in February after a 2% gain in January.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4952, above which the gains could be extended to 1.4984. On the flip side, a break below 1.49 could push the pair down to 1.4850 levels.
Rise in business investment could support USD
The USD made a slight comeback after the details of the report showed the Nonmilitary capital goods excluding aircraft (business investment) used to calculate GDP increased 0.2%, after falling a revised 0.4% in January. Moreover, a rebound in business investment is slightly positive, as it may provide lift to the economy.
The pair had shot higher to 1.4952 immediately after the release of an unexpectedly weak headline figure - -1.2% in February after a 2% gain in January.
GBP/USD Technical Levels
The immediate resistance is seen at 1.4952, above which the gains could be extended to 1.4984. On the flip side, a break below 1.49 could push the pair down to 1.4850 levels.