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Forex pairs in this Article » GBP/USD (Guatemala) - GBP/USD slid and resumed the downside post a round of positive data from the US.

US Personal spending beat expectations at 0.4%vs 0.3%. Chicago PMI came in slightly better at 59.6 vs 59.0 and the Michigan Consumer Sentiment Index reads 81.2 vs 81.0 expected. From the UK, and as Investec Bank dealers noted, “GfK Consumer confidence for January posted a recovery to its highest level since 2007 this morning after a recent quarter of falls. The British raised their expectations on the outlook for the economic recovery, driven by housing and consumers... The BoE have stated that they will consider a host of measures before hiking UK interest rates, but having already set out their stall in linking the policy rate to unemployment, we still anticipate a great deal of market focus on unemployment in coming months”.

GBP/USD Levels

The 20 DMA is 1.6471, the 50 DMA is 1.6408 and the 200 DMA is 1.5815. RSI (14) reads 48.68. Supports are ascending from 1.6309, 1.6343, 1.6396 and 1.6415. Spot is 1.6467, 1.6536, 1.6586, 1.6606 and 1.6627.
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