22 Aug 2013
GBP/USD, burnt out? Down 0.46%
FXstreet.com (Chicago) - GBP/USD accumulates 0.45% after impressive rally that started last week. The pair traded above 1.57 at the opening of the Asian session today but failed to maintain high levels to cascade below 1.56 zone.
Mixed results
Mixed data in the US did not impede greenback bulls to push the currency price higher. Initial jobless claims increased to 336K vs. previous 323K and expected 322K while the Markit Manufacturing PMI for August outperformed expected 53.8 at 53.9 in the US. Market participants wait GDP’s growth for the second quarter of the year tomorrow morning.
GBP/USD Technical Levels
Technically speaking, the pair trades at 1.5588 between supports at 1.5562 (session lows), 1.5544 (August 15th highs) ahead of 1.5518 (August 13th highs) and resistances at 1.5600 (August 18th lows), 1.5627 (August 20th lows) followed by 1.5646 (August 17th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.
Mixed results
Mixed data in the US did not impede greenback bulls to push the currency price higher. Initial jobless claims increased to 336K vs. previous 323K and expected 322K while the Markit Manufacturing PMI for August outperformed expected 53.8 at 53.9 in the US. Market participants wait GDP’s growth for the second quarter of the year tomorrow morning.
GBP/USD Technical Levels
Technically speaking, the pair trades at 1.5588 between supports at 1.5562 (session lows), 1.5544 (August 15th highs) ahead of 1.5518 (August 13th highs) and resistances at 1.5600 (August 18th lows), 1.5627 (August 20th lows) followed by 1.5646 (August 17th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis.