23 Aug 2013
GBP/USD spikes on UK GDP
FXstreet.com (Barcelona) - GBP/USD has moved up and beaten yesterdays high through 1.5625.
GBP/USD has spiked up to print a high so far of 1.5632 after the release of UK data. BBA Mortgage Approvals for (Jul) were a little disappointing and arrived 37.2 vs 39.2K consensus. However, more in focus were the GDP numbers. GDP (QoQ) (Q2) arrived at 0.7% vs consensus 0.6%. GDP (YoY) (Q2) arrived at 1.5% vs consensus 1.4%.
GBP/USD a negative bias
GBP/USD is looking heavy still from the failure of the 200w MA and June highs at 1.5750. The pair is consolidated with the 20 DMA at 1.5452, the 50 DMA 1.5346, and the 200 DMA at 1.5518. Failure there opens a target for the July high 1.5432. RSI (9) reads 59.67. Supports are ascending from 1.5497, 1.5510, 1.5536, 1.5563. Spot is currently 1.5593 while resistances are 1.5604 1.5637, 1.5662, 1.5696 and 1.5723.
GBP/USD has spiked up to print a high so far of 1.5632 after the release of UK data. BBA Mortgage Approvals for (Jul) were a little disappointing and arrived 37.2 vs 39.2K consensus. However, more in focus were the GDP numbers. GDP (QoQ) (Q2) arrived at 0.7% vs consensus 0.6%. GDP (YoY) (Q2) arrived at 1.5% vs consensus 1.4%.
GBP/USD a negative bias
GBP/USD is looking heavy still from the failure of the 200w MA and June highs at 1.5750. The pair is consolidated with the 20 DMA at 1.5452, the 50 DMA 1.5346, and the 200 DMA at 1.5518. Failure there opens a target for the July high 1.5432. RSI (9) reads 59.67. Supports are ascending from 1.5497, 1.5510, 1.5536, 1.5563. Spot is currently 1.5593 while resistances are 1.5604 1.5637, 1.5662, 1.5696 and 1.5723.