Back
26 Feb 2014
GBP/USD dumps towards 1.6640
FXStreet (Guatemala) - The US new home sales rose 9.6% to 468,000 annual rate and these were much stronger than expected. The dollar is firmer across the board and GBP is simply trying to hold on.
Karen Jones, chief analyst at Commerzbank said, “The market will need to break back below 1.6535 (50% retracement) in order to re-focus attention on to the 1.6259/29 support which remains key (September high and the 23.6% retracement of the move up from July 2013)”.
GBP/USD Levels
The 20 DMA is 1.6534, the 50 DMA is 1.6484 and the 200 DMA is 1.5918. RSI (14) reads 46.85. supports are ascending from 1.6538,1.6583, 1.6623 1.6642. Spot is 1.6653 while resistances are 1.6680, 1.6731, 1.6745, 1.6757 and 1.6766.
Karen Jones, chief analyst at Commerzbank said, “The market will need to break back below 1.6535 (50% retracement) in order to re-focus attention on to the 1.6259/29 support which remains key (September high and the 23.6% retracement of the move up from July 2013)”.
GBP/USD Levels
The 20 DMA is 1.6534, the 50 DMA is 1.6484 and the 200 DMA is 1.5918. RSI (14) reads 46.85. supports are ascending from 1.6538,1.6583, 1.6623 1.6642. Spot is 1.6653 while resistances are 1.6680, 1.6731, 1.6745, 1.6757 and 1.6766.