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9 Apr 2013
Forex: GBP/USD eases from highs
FXstreet.com (Córdoba) - After the knee-jerk reaction to much better than expected UK industrial data that led GBP/USD to daily highs above 1.5300, the cross lost momentum and slipped back below the round level ahead of the New York opening.
The Cable has been undermined by concerns over continued UK economic weakness, and today's data is certainly not enough to dissipate those fears. At time of writing, GBP/USD is trading around 1.5290, having peaked at 1.5323 after the data.
In terms of technical levels, next supports for GBP/USD are seen at 1.5250 (intraday lows), 1.5225 (100-hour SMA) and 1.5200 (psychological level), while on the contrary, resistances could be found at 1.5323 (intraday high), 1.5363 (Apr 5 high) and 1.5400(psychological level).
The Cable has been undermined by concerns over continued UK economic weakness, and today's data is certainly not enough to dissipate those fears. At time of writing, GBP/USD is trading around 1.5290, having peaked at 1.5323 after the data.
In terms of technical levels, next supports for GBP/USD are seen at 1.5250 (intraday lows), 1.5225 (100-hour SMA) and 1.5200 (psychological level), while on the contrary, resistances could be found at 1.5323 (intraday high), 1.5363 (Apr 5 high) and 1.5400(psychological level).