24 Jul 2013
GBP/USD recovering from session lows
FXstreet.com (London) - GBP/USD is drifting a little higher into the 1.5350’s off the 1.5335 low.
GBP/USD is overall bid while we await further economic news from the States later this afternoon. First, we will see Markit Manufacturing PMI (Jul) at 12.58GMT. Expectations are for a reading of 51.9. Then, New Home Sales (MoM) for June are at 2GMT and expected to print 0.485m.
GBP/USD Levels
Danske Bank’s Technical Update offers 20d ma at 1.5161, 50d ma at 1.5288, 200 d ma at 1.5580 and RSI (9) printing 63.91. Supports are 1.5270, 1.5280, 1.5297, and 1.5326 while at the time of writing Spot is 1.5355. Resistances are 1.539,7 1.5436, 1.5442, and 1.5480. Failures to the topside will bring about the bear’s attentions to the 1.5270 accelerated uptrend and support area. A close here is required below to alleviate the upside pressure and avert continued gains.
GBP/USD is overall bid while we await further economic news from the States later this afternoon. First, we will see Markit Manufacturing PMI (Jul) at 12.58GMT. Expectations are for a reading of 51.9. Then, New Home Sales (MoM) for June are at 2GMT and expected to print 0.485m.
GBP/USD Levels
Danske Bank’s Technical Update offers 20d ma at 1.5161, 50d ma at 1.5288, 200 d ma at 1.5580 and RSI (9) printing 63.91. Supports are 1.5270, 1.5280, 1.5297, and 1.5326 while at the time of writing Spot is 1.5355. Resistances are 1.539,7 1.5436, 1.5442, and 1.5480. Failures to the topside will bring about the bear’s attentions to the 1.5270 accelerated uptrend and support area. A close here is required below to alleviate the upside pressure and avert continued gains.