25 Jul 2013
GBP/USD keeps falling, below 1.5270
FXstreet.com (Edinburgh) -The bearish sentiment around the sterling is intensifying on Thursday, with the GBP/USD free falling to sub 1.5200 levels.
GBP/USD in weekly lows
The pair continues its intraday decline after the UK GDP figures left no room for surprises during the second quarter, expanding at an annual pace of 1.4% and 0.6% inter-quarter. In the opinion of Alistair Cotton, Senior Analyst at Currencies Direct, “A weaker pound finally appears to have been a driving force behind a strong Q2 GDP number, after all three industry sectors - manufacturing, construction and services - posted positive contributions to the overall growth figure of the first time since Q3 2010”.
GBP/USD support/resistance level
As of writing the pair is losing 0.28% at 1.5270 facing the next support at 1.5258 (low Jul.22) and then 1.5248 (MA10d). On the upside, a break above 1.5390 (high Jul.24) would aim for 1.5393 (high Jul.23) and finally 1.5442 (high Jun.26).
GBP/USD in weekly lows
The pair continues its intraday decline after the UK GDP figures left no room for surprises during the second quarter, expanding at an annual pace of 1.4% and 0.6% inter-quarter. In the opinion of Alistair Cotton, Senior Analyst at Currencies Direct, “A weaker pound finally appears to have been a driving force behind a strong Q2 GDP number, after all three industry sectors - manufacturing, construction and services - posted positive contributions to the overall growth figure of the first time since Q3 2010”.
GBP/USD support/resistance level
As of writing the pair is losing 0.28% at 1.5270 facing the next support at 1.5258 (low Jul.22) and then 1.5248 (MA10d). On the upside, a break above 1.5390 (high Jul.24) would aim for 1.5393 (high Jul.23) and finally 1.5442 (high Jun.26).