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Forex pairs in this Article » GBP/USD
FXStreet (Guatemala) - GBP/USD had been bid on the day and even post the Consumer Confidence data that should have been dollar negative. Some time post the release a steady cable suddenly dropped out of the skies and is finding a base 40 pips lower in the 1.6660's - yet to be fully explained, stops triggered across the board could be blamed although Fed's Tarullo has been speaking and Gold is making fresh highs.

Consumer Confidence came in below expectations and previous month. The data for February read 78.1 vs 80.0 expected and 79.4 previous. Fed's Tarullo was then speaking and suggested there are some areas in the economy that look to be in a bubble. High-yield corporate bonds and leveraged loans are risky areas. Farmland, small tech firm valuations seem stretched. Some evidence of greater duration and credit risk.

GBP/USD Levels

The 20 DMA is 1.6529, the 50 DMA is 1.6475 and the 200 DMA is 1.5910. RSI (14) reads 65.10. Supports are ascending from 1.6510, 1.6538, 1.6559, 1.6583,1.6600 (fib support) and 1.6660. Spot is 1.6664 with resistances at 1.6725, 1.6745 and 1.6757.
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