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15 Aug 2013
GBP/USD declines fast after US CPI and Empire State index
FXstreet.com (San Francisco) - After trading at 2-month highs around 1.5595, the GBP/USD has reacted down following the latest US economic data with the cable falling more than 50 pips to break down the 1.5550 level.
The US initial jobless claims index added just 320.000 new people in the August 10th week, well below expectations. The Empire States manufacturing index declines to 8.24 pts in August from 9.46 in July, against expectations. Data fuels Sept-tapering concerns.
Currently, the GBP/USD is trading around 1.5535, still 0.25% positive on the day. The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as CCI and Momentum are pointing to the south while the Stochastic and the MACD are neutral.
GBP/USD key levels
Above the 1.5550, a breakout of 1.5597 (50% of 1.6380-1.4814) would aim for 1.5678 (high Jun.19) and then 1.5723 (high Jun.18). On the other hand, support levels align at 1.5504 (low Aug.15) ahead of 1.5446 (MA10d) and finally 1.5423 (low Aug.14).
The US initial jobless claims index added just 320.000 new people in the August 10th week, well below expectations. The Empire States manufacturing index declines to 8.24 pts in August from 9.46 in July, against expectations. Data fuels Sept-tapering concerns.
Currently, the GBP/USD is trading around 1.5535, still 0.25% positive on the day. The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as CCI and Momentum are pointing to the south while the Stochastic and the MACD are neutral.
GBP/USD key levels
Above the 1.5550, a breakout of 1.5597 (50% of 1.6380-1.4814) would aim for 1.5678 (high Jun.19) and then 1.5723 (high Jun.18). On the other hand, support levels align at 1.5504 (low Aug.15) ahead of 1.5446 (MA10d) and finally 1.5423 (low Aug.14).