Session recap: A Sterling effort, beside the football

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Sterling was the best performer of late, taking out the 1.70 handle and giving the bulls extra conviction that the long-term resistance is indeed achievable.

GBP/USD made a high of 1.7062 on the basis that the FOMC is steady as she goes and gives the pound the edge currently.

EUR/USD has been probing the upside but the US data kept this one at bay with a very strong print in the Philly Fed data and an improvement in the jobless claims vs expectations. Valeria Bednarik, chief analyst at FXStreet explained that, across the board, the EUR/USD is still among the weaker against the greenback, about to close the day barely above its opening. In the short term, the hourly chart shows latest candle opened right below its 20 SMA while indicators turned south and approach their midlines.

USD/JPY has been consolidating sub the 102 handle with a bearish tone surrounding the greenback on a dovish theme from the FOMC although having recovered from key support below the 101.80 mark.

Key Events:

US weekly jobless claims fell while continuing claims fell to lowest levels since October 2007

Philly Fed index gave the dollar a boos on impressive advancements

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