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14 Jun 2013
GBP/USD off lows, still down on the day
FXstreet.com (Córdoba) - The GBP/USD recovered some ground at the beginning of the New York session after hitting a low of 1.5615, as investors continue to assess the latest string of mixed US data.
GBP/USD remains capped by 1.5680
GBP/USD managed to trim losses, although the recovery has been so far being capped by the 20-hour SMA around 1.5680, where it is still down 0.2% on the day. The pair has been barely affected by latest US releases including below-expectations industrial production and consumer confidence figures.
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that the GBP/USD still looks bearish according to short-term charts. "A break below daily low (1.5615) should expose the 1.5550 area, strong static support".
GBP/USD remains capped by 1.5680
GBP/USD managed to trim losses, although the recovery has been so far being capped by the 20-hour SMA around 1.5680, where it is still down 0.2% on the day. The pair has been barely affected by latest US releases including below-expectations industrial production and consumer confidence figures.
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com, notes that the GBP/USD still looks bearish according to short-term charts. "A break below daily low (1.5615) should expose the 1.5550 area, strong static support".