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19 Mar 2014
GBP/USD drifting higher maintaining bullish bias
FXStreet (Guatemala) - GBP/USD is resilient vs a broadly stronger dollar and has been supported on UK data and the BoE comments.
GBP/USD is currently 1.6630, catching a drift back after dropping away from the highs of 1.6656. Strategists at TD Securities noted that the UK Jobless Claims dropped by 34.6k in Feb, better than the -25k consensus call; “the unemployment rate was flat at 7.2% and wages grew by 1.4% Y/Y (mkt 1.3%), its highest level since June of last year. BoE minutes from the March meeting show a unanimous vote on both the interest rate and QE. Regarding GBP, the MPC noted that the gradual appreciation could continue if the UK economy appears to continue to outperform”.
GBP/USD Levels
The 20 DMA is 1.6663, the 50 DMA is 1.6556 and the 200 DMA is 1.6021. RSI (14) reads 57.29. Supports are ascending from 1.6447, 1.6470, 1.6488, 1.6538 and 1.6605. Spot is 1.6632, 1.6649 and 1.6675.
GBP/USD is currently 1.6630, catching a drift back after dropping away from the highs of 1.6656. Strategists at TD Securities noted that the UK Jobless Claims dropped by 34.6k in Feb, better than the -25k consensus call; “the unemployment rate was flat at 7.2% and wages grew by 1.4% Y/Y (mkt 1.3%), its highest level since June of last year. BoE minutes from the March meeting show a unanimous vote on both the interest rate and QE. Regarding GBP, the MPC noted that the gradual appreciation could continue if the UK economy appears to continue to outperform”.
GBP/USD Levels
The 20 DMA is 1.6663, the 50 DMA is 1.6556 and the 200 DMA is 1.6021. RSI (14) reads 57.29. Supports are ascending from 1.6447, 1.6470, 1.6488, 1.6538 and 1.6605. Spot is 1.6632, 1.6649 and 1.6675.