28 Apr 2015
GBP/USD back below 1.5200 on GDP
FXStreet (Edinburgh) - The sterling is now surrendering initial gains and dragging GBP/USD to retest sub-1.5200 levels, or session lows.
GBP/USD weaker after poor UK GDP
The pair is navigating intraday troughs after UK GDP figures disappointed investors today, showing that the British economy expanded less than expected 0.3% inter-quarter during Q1 and 2.4% on a yearly basis.
Further releases saw the Index of Services matching estimates at 0.7% in the three months ended in February. On the brighter side, Mortgage Approvals gauged by BBA came in at 38.8K during March vs. 37.9K forecasted.
GBP/USD levels to watch
As of writing the pair is down 0.34% at 1.5185 and a breach of 1.5177 (100-d MA) would open the door to 1.5095 (daily cloud top) and finally 1.5052 (55-d MA). On the upside, the initial up barrier lines up at 1.5263 (high Apr.27) followed by 1.5270 (high Mar.5) and then 1.5321 (76.4% of 1.5554-1.4567).
GBP/USD weaker after poor UK GDP
The pair is navigating intraday troughs after UK GDP figures disappointed investors today, showing that the British economy expanded less than expected 0.3% inter-quarter during Q1 and 2.4% on a yearly basis.
Further releases saw the Index of Services matching estimates at 0.7% in the three months ended in February. On the brighter side, Mortgage Approvals gauged by BBA came in at 38.8K during March vs. 37.9K forecasted.
GBP/USD levels to watch
As of writing the pair is down 0.34% at 1.5185 and a breach of 1.5177 (100-d MA) would open the door to 1.5095 (daily cloud top) and finally 1.5052 (55-d MA). On the upside, the initial up barrier lines up at 1.5263 (high Apr.27) followed by 1.5270 (high Mar.5) and then 1.5321 (76.4% of 1.5554-1.4567).