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15 Aug 2013
GBP/USD regains the 1.55 handle on improving UK data
FXstreet.com (Barcelona) - The GBP/USD foreign exchange rate is last quoted near session highs at 1.5517, off recent session lows at 1.5494, after it broke above the 1.5450 resistance on better than expected UK jobs data and BoE.
GBP/USD more choppy trade around here
“So Cable has regained 1.5500, pretty much where it currently sits, having traded to as high as 1.5546,” said FX Charts analyst Jim Langlands, adding: “More choppy trade around here looks the most likely outcome given the expected quiet conditions elsewhere, but the UK retail sales will be released later on, which could provide some directional movement (exp 0.6%mm/2.5% yy).”
GBP/USD key technical levels
Immediate resistance to the upside for GBP/USD shows at August 07 highs 1.5532, followed by early NY session fresh weekly high at 1.5548, and Friday's highs at 1.5560. To the downside, closest support lies at recent session lows 1.5494, followed by August 08 lows at 1.5483, and yesterday's/Tuesday's weekly lows at 1.5424.
GBP/USD more choppy trade around here
“So Cable has regained 1.5500, pretty much where it currently sits, having traded to as high as 1.5546,” said FX Charts analyst Jim Langlands, adding: “More choppy trade around here looks the most likely outcome given the expected quiet conditions elsewhere, but the UK retail sales will be released later on, which could provide some directional movement (exp 0.6%mm/2.5% yy).”
GBP/USD key technical levels
Immediate resistance to the upside for GBP/USD shows at August 07 highs 1.5532, followed by early NY session fresh weekly high at 1.5548, and Friday's highs at 1.5560. To the downside, closest support lies at recent session lows 1.5494, followed by August 08 lows at 1.5483, and yesterday's/Tuesday's weekly lows at 1.5424.