13 Feb 2015
GBP/USD back above 1.54 levels
FXStreet (Mumbai) - The GBP/USD pair rose back above 1.54 levels to trade near the day’s high at 1.5417 levels after the February’s consumer confidence data in the US slipped from 11-year highs set in January.
Streak of disappointing data continues in the US
The February’s University of Michigan gauge of US consumer confidence came-in at 93.6, missing the estimate of 98.1. The data continued the recent pattern of the weaker-than-expected data sets in the US. However, a weaker consumer sentiment has failed to have any impact on the 10-year Treasury yields in the US, which trade at 2.014%; up 2.8 basis points for the day.
Earlier today, the GBP/USD pair hit a low of 1.5369 as the USD made a rather weak comeback. However, the decline in the import price index coupled with a drop in the consumer sentiment helped the GBP/USD recover losses to set a new high of 1.5422.
GBP/USD Technical Levels
The pair currently trades at 1.5412; up 0.205 for the day. The immediate resistance is seen at 1.5420, above which it could rise to 1.5484 levels. On the flip side, support is seen at 1.5369 and 1.5342 levels.
Streak of disappointing data continues in the US
The February’s University of Michigan gauge of US consumer confidence came-in at 93.6, missing the estimate of 98.1. The data continued the recent pattern of the weaker-than-expected data sets in the US. However, a weaker consumer sentiment has failed to have any impact on the 10-year Treasury yields in the US, which trade at 2.014%; up 2.8 basis points for the day.
Earlier today, the GBP/USD pair hit a low of 1.5369 as the USD made a rather weak comeback. However, the decline in the import price index coupled with a drop in the consumer sentiment helped the GBP/USD recover losses to set a new high of 1.5422.
GBP/USD Technical Levels
The pair currently trades at 1.5412; up 0.205 for the day. The immediate resistance is seen at 1.5420, above which it could rise to 1.5484 levels. On the flip side, support is seen at 1.5369 and 1.5342 levels.