Filed Under:
Forex pairs in this Article » GBP/USD (Athens) - The GBP/USD is well capped by 1.5500 key area, on global turmoil and weaker than expected data from US.

Weaker US Consumer data putting again riddles on ‘tapering’ to traders; GBP/USD below 1.5500

The weaker than expected US data did not assist investors to comprehend if the ‘tapering’ will be ‘sooner’ rather than ‘later’. The US data were mixed, but the most crucial ones, such consumer spending, personal income, as well as personal spending let down investors all over the globe. On the other hand, the sterling is underperforming today due to a general corrective pullback. What’s more, traders should bear in mind that the last week (global turmoil, rumors for US military forces invading Syria), was not generally a pretty go of things for risk-seeking investors. Last but not least, next week might probably be the crucial one for Fed’s tapering decision.

Technical Outlook on GBP/USD

At the time of writing, the cable is trading at 1.5488, down 0.11%. The Trend Index shows the pair to be slightly bullish. Daily pivot point support and resistance can be found at S3: 1.5417 S2: 1.5420 S1: 1.5356 R1:1.5527 R2:1.5565 R3:1.5604
comments powered by Disqus