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27 Jan 2015
GBP/USD up to test key levels on 1.51 handle
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5192 with a high of 1.5225 and a low of 1.5060 and up 0.65% on the day.
Despite the poor GDP from the UK earlier that dampened the pound, GBP/USD is now up 0.65% on the day, having tested the August 2nd 2013 weekly stick lows and the daily stick of zone on Jan 2nd 2015, having rallied from 1.5068 and surpassing 22nd Jan highs putting the major back into bullish territory.
Fundamentally, the move came on the back of a big miss in US data, with Durable Goods -3.4% vs 0.5% expected for Dec, and even worse than pervious -2.1%. This is in addition to past misses in US data and equating to an area that can't be ignored y the FOMC this week, hindering prospects of a rate rise as soon as perhaps anticipated by some participants.
Despite the poor GDP from the UK earlier that dampened the pound, GBP/USD is now up 0.65% on the day, having tested the August 2nd 2013 weekly stick lows and the daily stick of zone on Jan 2nd 2015, having rallied from 1.5068 and surpassing 22nd Jan highs putting the major back into bullish territory.
Fundamentally, the move came on the back of a big miss in US data, with Durable Goods -3.4% vs 0.5% expected for Dec, and even worse than pervious -2.1%. This is in addition to past misses in US data and equating to an area that can't be ignored y the FOMC this week, hindering prospects of a rate rise as soon as perhaps anticipated by some participants.