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15 Aug 2013
GBP/USD targetting 1.5600 handle
FXstreet.com (Barcelona) - GBP/USD was is a slow starter in London, oscillating in a tight range around 1.5525/33 on a quiet European open.
However, today, the attention has been on UK retail sales and US CPI later on. Retail Sales improved and beat expectations. 1.1% came in MoM vs a lower consensus of 0.6% and previous 0.2%. The YoY was equally impressive at 3.0% vs 2.5% consensus and beating previous 2.2%. Lets see how the US CPI reads this afternoon, but for now, sterling is bid and through 1.5580, 0.51% up on the session from overnight.
GBP/USD consolidated eyes May peak
GBP/USD is heading towards the May peak through 1.5600 handle en route for the 200 week MA and June highs 1.5750 area. The 20 dma is 1.5357, the 50 dma is 1.5345 and the 200 dma is 1.5526. RSI (9) reads 62.72. Supports are ascending from 1.5332, 1.5392, 1.5415, 1.5457 and 1.5508. Spot is currently 1.5581 with resistances 1.5616 and 1.5649.
However, today, the attention has been on UK retail sales and US CPI later on. Retail Sales improved and beat expectations. 1.1% came in MoM vs a lower consensus of 0.6% and previous 0.2%. The YoY was equally impressive at 3.0% vs 2.5% consensus and beating previous 2.2%. Lets see how the US CPI reads this afternoon, but for now, sterling is bid and through 1.5580, 0.51% up on the session from overnight.
GBP/USD consolidated eyes May peak
GBP/USD is heading towards the May peak through 1.5600 handle en route for the 200 week MA and June highs 1.5750 area. The 20 dma is 1.5357, the 50 dma is 1.5345 and the 200 dma is 1.5526. RSI (9) reads 62.72. Supports are ascending from 1.5332, 1.5392, 1.5415, 1.5457 and 1.5508. Spot is currently 1.5581 with resistances 1.5616 and 1.5649.