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12 Aug 2013
GPD/USD stalled within 1.5460 zone
FXstreet.com (Chicago) - GBP/USD declined slowly throughout Monday post $98B budget deficit data in the US.
With the Dow down 0.03%, the Nasdaq up 0.27% and the S&P down 0.11%, the cable evidences a slow decline against a slightly stronger dollar. Still accumulating superior gains for the month at 2.43%, the pair remains strong on 7-week highs despite 0.17% weekly losses. Market participants await housing, consumer and producer data in the UK along retail sales and international trade data in the US.
Trading at 1.5464, the pair oscillates 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 cable as slightly bearish against the greenback on one-hour timeframe analysis.
With the Dow down 0.03%, the Nasdaq up 0.27% and the S&P down 0.11%, the cable evidences a slow decline against a slightly stronger dollar. Still accumulating superior gains for the month at 2.43%, the pair remains strong on 7-week highs despite 0.17% weekly losses. Market participants await housing, consumer and producer data in the UK along retail sales and international trade data in the US.
Trading at 1.5464, the pair oscillates 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 cable as slightly bearish against the greenback on one-hour timeframe analysis.