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27 Nov 2013
GBP/USD losing 1.63 handle
FXstreet.com (London) - The dollar rallied after a number of US data readings beat expectations.
GBP/USD is sub 1.6300 again with consumer confidence rebounding 75.1 vs 73.5. Meanwhile, strategists at TD Securities note that decent growth numbers were near consensus however for the UK, and it seems the outsized GBP rally also had a lot to do with a break of key resistance at 1.6240/50. “A close above that level would add to bullish momentum”.
GBP/USD Levels
The 20 DMA is 1.6073, the 50 DMA is 1.6083 and the 200 DMA is 1.5522. RSI (14) reads 73.76. Supports are ascending from 1.6093, 1.6110,1.6134,1.6168, 1.6210, 1.6241 and 1.6260. Spot is 1.6277 while key resistance is 1.6380 on the upside.
GBP/USD is sub 1.6300 again with consumer confidence rebounding 75.1 vs 73.5. Meanwhile, strategists at TD Securities note that decent growth numbers were near consensus however for the UK, and it seems the outsized GBP rally also had a lot to do with a break of key resistance at 1.6240/50. “A close above that level would add to bullish momentum”.
GBP/USD Levels
The 20 DMA is 1.6073, the 50 DMA is 1.6083 and the 200 DMA is 1.5522. RSI (14) reads 73.76. Supports are ascending from 1.6093, 1.6110,1.6134,1.6168, 1.6210, 1.6241 and 1.6260. Spot is 1.6277 while key resistance is 1.6380 on the upside.