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19 Feb 2014
GBP/USD below 1.6700 on UK data
FXStreet (Edinburgh) - The GBP/USD is now rapidly depreciating, retracing earlier gains and returning to yesterday’s levels below the 1.6700 handle.
GBP/USD weaker on higher u-rate
The pair is testing Tuesday’s lows near 1.6660 after the unemployment rate unexpectedly ticked higher to 7.2% in the three months ended in December, missing estimates and previous print at 7.1%. The Claimant Change surprised investors in January, decreasing by 27.6K vs. 20.0K expected and December’s 27.7. Further data showed that the BoE minutes came in in line with consensus, keeping the status quo (refi rate at 0.5% and assets purchase programme at £375 billion) and the voting pattern (9-0).
GBP/USD levels to watch
The pair is now losing 0.01% at 1.6674 and a break below 1.6655 (low Feb.18) would expose 1.6644 (low Feb.14). On the upside, the initial hurdle aligns at 1.6734 (high Feb.19) followed by 1.6741 (high Feb.18) and then 1.6823 (2014 high Feb.17).
GBP/USD weaker on higher u-rate
The pair is testing Tuesday’s lows near 1.6660 after the unemployment rate unexpectedly ticked higher to 7.2% in the three months ended in December, missing estimates and previous print at 7.1%. The Claimant Change surprised investors in January, decreasing by 27.6K vs. 20.0K expected and December’s 27.7. Further data showed that the BoE minutes came in in line with consensus, keeping the status quo (refi rate at 0.5% and assets purchase programme at £375 billion) and the voting pattern (9-0).
GBP/USD levels to watch
The pair is now losing 0.01% at 1.6674 and a break below 1.6655 (low Feb.18) would expose 1.6644 (low Feb.14). On the upside, the initial hurdle aligns at 1.6734 (high Feb.19) followed by 1.6741 (high Feb.18) and then 1.6823 (2014 high Feb.17).