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27 Aug 2015
GBP/USD: minor recovery on 200 DMA
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5400 with a high of 1.5510 and a low of 1.5368.
GBP/USD is making a minor recovery off the seven-week lows post the markets appetite for more dollars on the back of further upbeat data releases from the US economy. Yesterday was the durable goods orders that smashed expectations and today the GDP and jobless claims both came in better that expected fuelling an appetite for the greenback and improving risk sentiment across the board. We now away the UK's own GDP releases and a possible rebound in the pound as markets begin to focus back on a rate hike from the UK in 2016 in oversold conditions.
GBP/USD due some consolidation on 200 DMA?
GBP/USD has seen massive downside and continues to fail through key supporting levels. We are now testing the 200 day ma that guards the 1.5332 July low. The June low is compelling at 1.5172 although we are in oversold conditions and maybe due some consolidation ahead of fundamental dat this week.
GBP/USD is making a minor recovery off the seven-week lows post the markets appetite for more dollars on the back of further upbeat data releases from the US economy. Yesterday was the durable goods orders that smashed expectations and today the GDP and jobless claims both came in better that expected fuelling an appetite for the greenback and improving risk sentiment across the board. We now away the UK's own GDP releases and a possible rebound in the pound as markets begin to focus back on a rate hike from the UK in 2016 in oversold conditions.
GBP/USD due some consolidation on 200 DMA?
GBP/USD has seen massive downside and continues to fail through key supporting levels. We are now testing the 200 day ma that guards the 1.5332 July low. The June low is compelling at 1.5172 although we are in oversold conditions and maybe due some consolidation ahead of fundamental dat this week.