7 Jul 2015
GBP/USD decline halted near 1.5520
FXStreet (Edinburgh) - The selling pressure around the sterling seems to have found some support in the 1.5520 area, with GBP/USD rebounding to 1.5540.
GBP/USD a tad better on UK data
The pair gained some pips after the mixed results in the UK economy, where Industrial Production surprised investors to the upside expanding 0.4% inter-month in May and 2.1% over the last twelve months. Manufacturing Production, instead, run the opposite way, contracting 0.6% MoM vs. a 0.1% gain forecasted.
Apart from the EU Leaders Summit in Brussels today, next of relevance in the pair will be the UK GDP Estimate by NIESR.
GBP/USD key levels
At the moment the pair retreating 0.42% at 1.5540 with the immediate support at 1.5528 (low Jul.6) followed by 1.5487 (low Jun.15) and finally 1.5467 (low Jun.12). On the upside, a breakout of 1.5628 (high Jul.6) would open the door to 1.5644 (high Jul.3) and then 1.5734 (high Jul.1).
GBP/USD a tad better on UK data
The pair gained some pips after the mixed results in the UK economy, where Industrial Production surprised investors to the upside expanding 0.4% inter-month in May and 2.1% over the last twelve months. Manufacturing Production, instead, run the opposite way, contracting 0.6% MoM vs. a 0.1% gain forecasted.
Apart from the EU Leaders Summit in Brussels today, next of relevance in the pair will be the UK GDP Estimate by NIESR.
GBP/USD key levels
At the moment the pair retreating 0.42% at 1.5540 with the immediate support at 1.5528 (low Jul.6) followed by 1.5487 (low Jun.15) and finally 1.5467 (low Jun.12). On the upside, a breakout of 1.5628 (high Jul.6) would open the door to 1.5644 (high Jul.3) and then 1.5734 (high Jul.1).