3 Jul 2013
GBP/USD trading at resistance
FXstreet.com (New York) - The GBP/USD foreign exchange rate has held onto its daily gains, inching slightly higher in recent moments after the latest US data.
In the United States, the ISM Non-Manufacturing PMI (June) came in at 52.2, against expectations of 54.0, and compared with a figure of 53.7 previously.
GBP/USD already notching staunch gains
At the time of writing, the GBP/USD is trading at 1.5277, up a robust +0.78% during US trading. After breaking above resistance at 1.5209, the Mataf.net analyst team calculates further measures of correction at 1.5275, and 1.5311.
GBP/USD still under pressure
According to Karen Jones, an analyst at Commerzbank, “The GBP/USD remains under pressure and on target for the support line at 1.5089, this connects the March low to the May low and may hold the initial test ahead of losses to the 1.5009 May low and then the 1.4832 March low.”
In the United States, the ISM Non-Manufacturing PMI (June) came in at 52.2, against expectations of 54.0, and compared with a figure of 53.7 previously.
GBP/USD already notching staunch gains
At the time of writing, the GBP/USD is trading at 1.5277, up a robust +0.78% during US trading. After breaking above resistance at 1.5209, the Mataf.net analyst team calculates further measures of correction at 1.5275, and 1.5311.
GBP/USD still under pressure
According to Karen Jones, an analyst at Commerzbank, “The GBP/USD remains under pressure and on target for the support line at 1.5089, this connects the March low to the May low and may hold the initial test ahead of losses to the 1.5009 May low and then the 1.4832 March low.”