31 Jul 2013
GBP/USD collapses below 1.5200 after the 'new' US GDP
FXstreet.com (San Francisco) - The Dollar is rallying across the market following the upbeat US GDP figures and revisions and after falling 90 pips from 1.5210 in matter of minutes, the GBP/USD has broken down the 1.5200 area and collapsed to fresh lowest since July 17 at 1.5120.
The Commerce Department has informed that the US economic activity has expanded at an annual pace of 1.7% during the second quarter, surpassing estimates at 1.2% and up from 1.1% in the previous quarter.
Currently, the GBP/USD is trading around 1.5135, 0.67% negative on the day. The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 1.5100 mark, next supports are at 1.5080, 1.5020 and 1.4830. On the upside, resistances are at 1.5200, 1.5250 and 1.5330.
The Commerce Department has informed that the US economic activity has expanded at an annual pace of 1.7% during the second quarter, surpassing estimates at 1.2% and up from 1.1% in the previous quarter.
Currently, the GBP/USD is trading around 1.5135, 0.67% negative on the day. The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 1.5100 mark, next supports are at 1.5080, 1.5020 and 1.4830. On the upside, resistances are at 1.5200, 1.5250 and 1.5330.