3 Dec 2013
GBP/USD; More upside data surprises
FXstreet.com (London) - GBP/USD is currently sub 1.6400, moving down sharply from the highs of 1.6439.
Strategists at TD Securities noted that another strong data point out of the UK, this time construction PMI, has further added to the list of solid releases lately and made the GBP an outperformer among the G10 giving the pair a lift through the figure. “Sterling has been the top performer among the majors over the past week, month, and three-month time frames”. The team said that tomorrow’s services PMI is the last key release ahead of the BoE on Thursday, and after upside surprises on this figure for nearly a year, the risks for tomorrow’s print still lie to upside and could further add to the GBP’s recent rise.
GBP/USD Levels
The 20 DMA is 1.6142, the 50 DMA is 1.6105 and the 200 DMA is 1.5545. RSI (14) reads 71.09. Supports are ascending from 1.6298, 1.6310 and 1.6343. Spot is 1.6400 while resistances are 1.6385, 1.6443, 1.6455 and 1.6475.
Strategists at TD Securities noted that another strong data point out of the UK, this time construction PMI, has further added to the list of solid releases lately and made the GBP an outperformer among the G10 giving the pair a lift through the figure. “Sterling has been the top performer among the majors over the past week, month, and three-month time frames”. The team said that tomorrow’s services PMI is the last key release ahead of the BoE on Thursday, and after upside surprises on this figure for nearly a year, the risks for tomorrow’s print still lie to upside and could further add to the GBP’s recent rise.
GBP/USD Levels
The 20 DMA is 1.6142, the 50 DMA is 1.6105 and the 200 DMA is 1.5545. RSI (14) reads 71.09. Supports are ascending from 1.6298, 1.6310 and 1.6343. Spot is 1.6400 while resistances are 1.6385, 1.6443, 1.6455 and 1.6475.