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11 Sep 2013
GBP/USD rockets past 1.5800 on robust UK data
FXstreet.com (Lisbon) - The GBP/USD foreign exchange rate exploded Wednesday during European trading, moving on upbeat economic data and testing the 1.5800 threshold.
In the United Kingdom, the Claimant Count Change (August) was reported at -32.6K, beating expectations of -22.0K. Moreover, the Claimant Count Rate yielded a figure of 4.2% in August, compared to 4.3% previously. Finally, the ILO Unemployment Rate (3m) came in at 7.7% in July, also improving vs. expectations.
GBP/USD technical levels
At this juncture, the GBP/USD is firmly entrenched in positive territory on the day, settling at the 1.5800 region during European trading, up +0.38%. Technically speaking, the GBP/USD will encounter resistance at 1.5810, notes the Danske Research Team. Conversely, the pair remains insulated by supports at 1.5681, ahead of 1.5625.
In the United Kingdom, the Claimant Count Change (August) was reported at -32.6K, beating expectations of -22.0K. Moreover, the Claimant Count Rate yielded a figure of 4.2% in August, compared to 4.3% previously. Finally, the ILO Unemployment Rate (3m) came in at 7.7% in July, also improving vs. expectations.
GBP/USD technical levels
At this juncture, the GBP/USD is firmly entrenched in positive territory on the day, settling at the 1.5800 region during European trading, up +0.38%. Technically speaking, the GBP/USD will encounter resistance at 1.5810, notes the Danske Research Team. Conversely, the pair remains insulated by supports at 1.5681, ahead of 1.5625.