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27 Feb 2014
GBP/USD back in bullish territory, 1.6670’s
FXStreet (Guatemala) - GBP/USD has been another volatile session making a low of 1.6618 and then scrambling back towards 1.6680.
We have seen a variety of US data, which all but the Initial Jobless Claims (Feb 21) has printed a bullish picture for the US economy. Durable Goods Orders -0.1% vs -15% expected was boost for the dollar. In respect of the pound, we had the BoE’s Miles say that the new normal for interest rates maybe below 5% for many years .
GBP/USD Levels
The 20 DMA is 1.6539, the 50 DMA is 1.6489 and the 200 DMA is 1.5926. RSI (14) reads 51.21. Supports are ascending from, 1.6538, 1.6559, 1.6583, 1.6622. Spot is 1.6670 while resistances are 1.6687, 1.6702, 1.6728 and 1.6745.
We have seen a variety of US data, which all but the Initial Jobless Claims (Feb 21) has printed a bullish picture for the US economy. Durable Goods Orders -0.1% vs -15% expected was boost for the dollar. In respect of the pound, we had the BoE’s Miles say that the new normal for interest rates maybe below 5% for many years .
GBP/USD Levels
The 20 DMA is 1.6539, the 50 DMA is 1.6489 and the 200 DMA is 1.5926. RSI (14) reads 51.21. Supports are ascending from, 1.6538, 1.6559, 1.6583, 1.6622. Spot is 1.6670 while resistances are 1.6687, 1.6702, 1.6728 and 1.6745.