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12 Aug 2013
GBP/USD, knocked off?
FXstreet.com (Chicago) - GBP/USD continues plunging as Monday’s trading journey advances.
The Financial Management Service released its monthly budget statement for July at -$97.6B vs. expected -$96.0B and previous $116.5B providing more bearish signs for the US economy. In the UK, the RICS housing price balance is due later in the day.
Price action indicates the pair accumulates 0.18% losses to trade at 1.5459 between supports at 1.5455 (May 9th highs), 1.5431 (June 18th lows) ahead of 1.5312 (June 20th lows) and resistances at 1.5485 (August 8th lows), 1.5515 (August 7th highs) followed by 1.5531 (August 5th highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis with a MACD pointing down along a pair price below the 20-days exponential moving average.
The Financial Management Service released its monthly budget statement for July at -$97.6B vs. expected -$96.0B and previous $116.5B providing more bearish signs for the US economy. In the UK, the RICS housing price balance is due later in the day.
Price action indicates the pair accumulates 0.18% losses to trade at 1.5459 between supports at 1.5455 (May 9th highs), 1.5431 (June 18th lows) ahead of 1.5312 (June 20th lows) and resistances at 1.5485 (August 8th lows), 1.5515 (August 7th highs) followed by 1.5531 (August 5th highs). The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis with a MACD pointing down along a pair price below the 20-days exponential moving average.