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12 Apr 2013
Forex: GBP/USD bounces off support to 1.5364/67
FXstreet.com (Barcelona) - The GBP/USD found itself edging higher after the publication of several US indicators Friday during US trading. After bouncing nearly 10 pips in recent moments, the pair now finds itself setting at 1.5364/67, down -0.12%.
According to the ICN.com, analyst team, “The GBP/USD is trading below key resistance level of the ascending channel but above Linear Regression Indicators. Ultimately, breaching the 1.5415 level might trigger a bullish wave reaching 1.5490.”
The ICN.com analyst team calculates the next corrective measures of support at 1.5370, onto 1.5340, and finally 1.5310. On the ascension, the GBP/USD will meet resistance at 1.5415, ahead of 1.5455, and finally 1.5490.
In the United States, Retail Sales (MoM) contracted -0.4% in March, compared with estimated of zero change. Meanwhile, the Producer Price Index (MoM) yielded a figure of 0.2% in March, against expectations of 0.2%. Retail Sales ex autos (MoM) also fell -0.4% in March, missing a projected 0.0% change.
According to the ICN.com, analyst team, “The GBP/USD is trading below key resistance level of the ascending channel but above Linear Regression Indicators. Ultimately, breaching the 1.5415 level might trigger a bullish wave reaching 1.5490.”
The ICN.com analyst team calculates the next corrective measures of support at 1.5370, onto 1.5340, and finally 1.5310. On the ascension, the GBP/USD will meet resistance at 1.5415, ahead of 1.5455, and finally 1.5490.
In the United States, Retail Sales (MoM) contracted -0.4% in March, compared with estimated of zero change. Meanwhile, the Producer Price Index (MoM) yielded a figure of 0.2% in March, against expectations of 0.2%. Retail Sales ex autos (MoM) also fell -0.4% in March, missing a projected 0.0% change.