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11 Mar 2014
GBP/USD picks pace after UK data
FXStreet (Edinburgh) -The pound is gaining some steam at the moment pushing the GBP/USD back to the 1.6645/50 region so far.
GBP/USD keeps the red
The pair showed no reaction after the mixed data from the British industrial sector during January: Industrial production expanded 0.1% inter-month and 2.9% over the last twelve months, both readings missing estimates while Manufacturing Production rose 0.4% MoM and 3.3% on a yearly basis, bettering forecasts. No significant movement in spot, it just lifted an eyebrow. The GDP Estimate gauged by NIESR is due next, with 0.8% expected in the three months to February.
GBP/USD levels to watch
As of writing the pair is down 0.02% at 1.6640 facing the next support at 1.6586 (30-d MA) followed by 1.6583 (low Feb.24) and finally 1.6500 (psychological level). On the flip side, a break above the psychological mark at 1.6700 would aim for 1.6745 (high Mar.10) and then 1.6785 (high Mar.7).
Mar.7).
GBP/USD keeps the red
The pair showed no reaction after the mixed data from the British industrial sector during January: Industrial production expanded 0.1% inter-month and 2.9% over the last twelve months, both readings missing estimates while Manufacturing Production rose 0.4% MoM and 3.3% on a yearly basis, bettering forecasts. No significant movement in spot, it just lifted an eyebrow. The GDP Estimate gauged by NIESR is due next, with 0.8% expected in the three months to February.
GBP/USD levels to watch
As of writing the pair is down 0.02% at 1.6640 facing the next support at 1.6586 (30-d MA) followed by 1.6583 (low Feb.24) and finally 1.6500 (psychological level). On the flip side, a break above the psychological mark at 1.6700 would aim for 1.6745 (high Mar.10) and then 1.6785 (high Mar.7).
Mar.7).