Back
31 Mar 2015
GBP/USD tests 1.4800 post-UK data
FXStreet (Edinburgh) - The pound attempted a rebound following the UK data releases, pushing GBP/USD to the proximity of the 1.4800 handle, although the bounce proved to be ephemeral.
GBP/USD a tad better on UK GDP
The pair is extending its downbeat tone on Tuesday despite the UK GDP figures for the fourth quarter saw the economy expanding 0.7% QoQ and 3.0% on a yearly basis, surpassing estimates at 0.5% and 2.7%, respectively. Further UK data showed the Current Account deficit at £25.3 billion during the same period and the Index of Services in the three months ended in January at 0.8% vs. the median at 0.7%.
GBP/USD relevant levels
At the moment the pair is down 0.32% at 1.4762 with the next support at 1.4722 (low Mar.20) followed by 1/4689 (low Mar.19) and then 1.4635 (57-month low Mar.18). On the flip side, a breakout of 1.4817 (hourly high Mar.31) would open the door to 1.4866 (10-d MA) and finally 1.4901 (high Mar.30).
GBP/USD a tad better on UK GDP
The pair is extending its downbeat tone on Tuesday despite the UK GDP figures for the fourth quarter saw the economy expanding 0.7% QoQ and 3.0% on a yearly basis, surpassing estimates at 0.5% and 2.7%, respectively. Further UK data showed the Current Account deficit at £25.3 billion during the same period and the Index of Services in the three months ended in January at 0.8% vs. the median at 0.7%.
GBP/USD relevant levels
At the moment the pair is down 0.32% at 1.4762 with the next support at 1.4722 (low Mar.20) followed by 1/4689 (low Mar.19) and then 1.4635 (57-month low Mar.18). On the flip side, a breakout of 1.4817 (hourly high Mar.31) would open the door to 1.4866 (10-d MA) and finally 1.4901 (high Mar.30).