22 Jul 2013
GBP/USD July highs
FXstreet.com (London) - GBP/USD is trading at daily highs, printing 1.5299 overnight.
GBP/USD is being tested back towards the downside this morning, moving away from the overnight high on the European open. Data wise, there is little key information this week specifically from the UK nor the US, although we will see Q2 GDP for the UK on Thursday and US GDP for June as well.
GBP/USD Corrective?
GBP/USD has been drifting higher on the previous sessions to reach the 55 day ma but has been unable to clear 1.5305 resistance. If this is just a corrective rebound from the support 1.4850 area in the overall bear trend, then failures may well persist here, the July high.
GBP/USD is being tested back towards the downside this morning, moving away from the overnight high on the European open. Data wise, there is little key information this week specifically from the UK nor the US, although we will see Q2 GDP for the UK on Thursday and US GDP for June as well.
GBP/USD Corrective?
GBP/USD has been drifting higher on the previous sessions to reach the 55 day ma but has been unable to clear 1.5305 resistance. If this is just a corrective rebound from the support 1.4850 area in the overall bear trend, then failures may well persist here, the July high.