9 Jul 2015
GBP/USD ignores US data
FXStreet (Mumbai) - A small spike to 1.5405 in the GBP/USD pair proved to be extremely short lived as the spot is back to 1.5375-1.5380 after the US weekly jobless claims rose sharply last week.
GBP/USD: Rejected above 1.54
The spot ran into offers in the range of 1.54-1.5410 for the fourth time today, even though the weekly initial jobless claims in the US spiked to 297K last week. The number was much higher than the estimated rise to 275K.
The latest drop from 1.54 also marked a second failure today to take out the hourly 50-MA currently located at 1.5403. Ahead in the day, the pair could be influenced by the Greece related news and comments from Fed’s George.
GBP/USD Technical Levels
The immediate resistance is seen in the range of 1.54-1.5410, above which gains could be extended to 1.5460. On the other hand, support is seen at 1.5358 and 1.5330.
GBP/USD: Rejected above 1.54
The spot ran into offers in the range of 1.54-1.5410 for the fourth time today, even though the weekly initial jobless claims in the US spiked to 297K last week. The number was much higher than the estimated rise to 275K.
The latest drop from 1.54 also marked a second failure today to take out the hourly 50-MA currently located at 1.5403. Ahead in the day, the pair could be influenced by the Greece related news and comments from Fed’s George.
GBP/USD Technical Levels
The immediate resistance is seen in the range of 1.54-1.5410, above which gains could be extended to 1.5460. On the other hand, support is seen at 1.5358 and 1.5330.