25 Sep 2013
GBP/USD doesn't settle; on 1.6080 consolidation
FXstreet.com (Chicago) - GBP/USD continues advancing to print 0.47% daily weeks wiping out yesterday’s losses and accumulating 3.30% monthly gains. The pair navigates around 13-month altitudes ahead of Wall Street’s closing bell.
Red journey
Earlier in the UK, the CBI distributive trades survey – realized was 34 vs. expected 24 and prior 27 for September (MoM). The FTSE 100 closed with 0.30% losses. In the US, new home sales increased to 7.9% vs. past -14.1% and mortgage applications decreased to 5.5% vs. past 11.2%. Amid rumors on what will happen with the US debt deficit, Wall Street registers losses.
GBP/USD Technical Levels
Price action reveals a steep climb throughout today’s session extending the bullish channel and upward trendline that started last July 8th. The pair is offered at 1.6081 and oscillates between supports aligned at 1.6066 (September 23rd highs), 1.5976 (September 18th highs) ahead of 1.5836 (September 17th highs) and resistances set at 1.6116 (January 6th highs), 1.6163 (January 15th highs) followed by 1.62 (December 16th 2012 highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20 and prior to tomorrow’s GDP data in the UK.
Red journey
Earlier in the UK, the CBI distributive trades survey – realized was 34 vs. expected 24 and prior 27 for September (MoM). The FTSE 100 closed with 0.30% losses. In the US, new home sales increased to 7.9% vs. past -14.1% and mortgage applications decreased to 5.5% vs. past 11.2%. Amid rumors on what will happen with the US debt deficit, Wall Street registers losses.
GBP/USD Technical Levels
Price action reveals a steep climb throughout today’s session extending the bullish channel and upward trendline that started last July 8th. The pair is offered at 1.6081 and oscillates between supports aligned at 1.6066 (September 23rd highs), 1.5976 (September 18th highs) ahead of 1.5836 (September 17th highs) and resistances set at 1.6116 (January 6th highs), 1.6163 (January 15th highs) followed by 1.62 (December 16th 2012 highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20 and prior to tomorrow’s GDP data in the UK.