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Forex pairs in this Article » GBP/USD (Barcelona) - GBP/USD has printed a high of 1.5640 but has since returned to challenge support at 1.5620.

GBP/USD had spiked up to print a high so far of 1.5632 after the release of UK data. BBA Mortgage Approvals for (Jul) were a little disappointing and arrived 37.2 vs 39.2K consensus. However, more in focus were the GDP numbers. GDP (QoQ) (Q2) arrived at 0.7% vs consensus 0.6%. GDP (YoY) (Q2) arrived at 1.5% vs consensus 1.4%. There is little left of the calendar for the pair today other than for the US data this afternoon in New Home Sales. Some analysts expect new home sales to fall by -2.8% M/M in July (mkt -2.0%), giving back some of the big 8.3% increase from the month before.

GBP/USD a negative bias

GBP/USD is looking heavy still from the failure of the 200w MA and June highs at 1.5750. The pair is consolidated with the 20 DMA at 1.5452, the 50 DMA 1.5346, and the 200 DMA at 1.5518. Failure there opens a target for the July high 1.5432. RSI (9) reads 59.67. Supports are ascending from 1.5497, 1.5510, 1.5536, 1.5563, and 1.5605. Spot is currently 1.5617 while resistances are1.5637, 1.5662, 1.5696 and 1.5723.
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