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18 Mar 2013
Forex: GBP/USD bounces off 1.5100
FXstreet.com (Barcelona) - The GBP/USD bounced back after testing the psychological support at 1.5100 and is moving back to its daily highs again, around 1.5145. The pair is currently trading at 1.5120/30 zone.
The March housing market index by NAHB eased from 46 to 44, contradicting the consensus for a rise to 47.
The EMU trade surplus eased from €10.3B to €9.0B in January (consensus of €3.4B), with non-seasonal data becoming deficit from €10.8B to €-3.9B, with consensus at €-3.5B.
The economic calendar showed an Italian global trade deficit in January, at €-1.619B, instead of the €2.110B surplus expected following December's €2.105B. Trade within the EU improved from €-1.212B to €0.663B.
“The bias here remains bullish above 1.5070 support area and my outlook is positive, for a rise through 1.5197, en route to 1.5330”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial support at 1.5070, followed by the major hurdle at 1.4980.
The March housing market index by NAHB eased from 46 to 44, contradicting the consensus for a rise to 47.
The EMU trade surplus eased from €10.3B to €9.0B in January (consensus of €3.4B), with non-seasonal data becoming deficit from €10.8B to €-3.9B, with consensus at €-3.5B.
The economic calendar showed an Italian global trade deficit in January, at €-1.619B, instead of the €2.110B surplus expected following December's €2.105B. Trade within the EU improved from €-1.212B to €0.663B.
“The bias here remains bullish above 1.5070 support area and my outlook is positive, for a rise through 1.5197, en route to 1.5330”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial support at 1.5070, followed by the major hurdle at 1.4980.