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19 Sep 2013
GBP/USD is finding support in 1.6020/30 region
FXstreet.com (London) - GBP/USD reached as high as 1.6154 on the back of the Fed yesterday, although the dollar has clawed back losses across the board into NA.
GBP/USD gave back some gains while Existing Home Sales in the US improved as did the Philly Fed Manufacturing Survey. UK retail sales took a hit, coming in lower than expected and lower than the previous as well. Year on year the numbers printed 2.1% vrs consensus 3.3% and against previous 3.0%. Month on month the actual number came in -0.9% This is the first bad number from the UK for some time, so sterling is giving back some of its gains across the board.
GBP/USD Levels
The 20 DMA is 1.5682, the 50 DMA is 1.5495 and the 200 DMA is 1.5486. RSI (14) reads 40.00. Supports are ascending from 1.5990, 1.6029, while spot is currently 1.6038. Resistances are 1.6096, 1.6164, 1.6182, 1.6225 and 1.6257.
GBP/USD gave back some gains while Existing Home Sales in the US improved as did the Philly Fed Manufacturing Survey. UK retail sales took a hit, coming in lower than expected and lower than the previous as well. Year on year the numbers printed 2.1% vrs consensus 3.3% and against previous 3.0%. Month on month the actual number came in -0.9% This is the first bad number from the UK for some time, so sterling is giving back some of its gains across the board.
GBP/USD Levels
The 20 DMA is 1.5682, the 50 DMA is 1.5495 and the 200 DMA is 1.5486. RSI (14) reads 40.00. Supports are ascending from 1.5990, 1.6029, while spot is currently 1.6038. Resistances are 1.6096, 1.6164, 1.6182, 1.6225 and 1.6257.