29 Jul 2013
GBP/USD bid towards 1.5400
FXstreet.com (London) - GBP/USD is heading towards 1.5400 after the data releases in the UK.
Mortgage Approvals (June) 57.667k vrs consensus 60.000k, down on previous 58.071. Net Lending to Individuals MoM for June £1B vrs consensus £1.4B up on previous £0.5B. Consumer Credit (June) £0.5B vrs previous £0.8B. There hasn’t been too much action around thee numbers, but things start to pick up for the pair later in the week, kicking off with the release of US Q2 GDP, then FOMC, PMI’s and BoE. What will Carney bring to the table?
GBP/USD testing resistance 1.5397
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, and 1.5297, while at the time of writing Spot is 1.5393. Resistances are 1.5397 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.
Mortgage Approvals (June) 57.667k vrs consensus 60.000k, down on previous 58.071. Net Lending to Individuals MoM for June £1B vrs consensus £1.4B up on previous £0.5B. Consumer Credit (June) £0.5B vrs previous £0.8B. There hasn’t been too much action around thee numbers, but things start to pick up for the pair later in the week, kicking off with the release of US Q2 GDP, then FOMC, PMI’s and BoE. What will Carney bring to the table?
GBP/USD testing resistance 1.5397
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, and 1.5297, while at the time of writing Spot is 1.5393. Resistances are 1.5397 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.