3 Feb 2014
GBP/USD rejected regardless of ISM disappointment
FXStreet (Guatemala) - US ISM Manufacturing PMI is down to 51.3 in January from 57 in December but sterling only managed an initial spike through to 1.6367 before supply took the paid lower again to a low of 1.6325.
Having eroded the 1.6340 uptrend on a continued negative basis, Karen Jones, Chief Analyst at Commerzbank suggested a close below the 1.6259 support should be enough to signal losses to the 1.5855 November low.
GBP/USD Levels
The 20 DMA is 1.6472, the 50 DMA is 1.6412 and the 200 DMA is 1.5820. RSI (14) reads 53. Supports are ascending from 1.6262, 1.6309. Spot is currently 1.6342 while resistances are 1.6396, 1.6467, 1.6485, 1.6510 and 1.6536.
Having eroded the 1.6340 uptrend on a continued negative basis, Karen Jones, Chief Analyst at Commerzbank suggested a close below the 1.6259 support should be enough to signal losses to the 1.5855 November low.
GBP/USD Levels
The 20 DMA is 1.6472, the 50 DMA is 1.6412 and the 200 DMA is 1.5820. RSI (14) reads 53. Supports are ascending from 1.6262, 1.6309. Spot is currently 1.6342 while resistances are 1.6396, 1.6467, 1.6485, 1.6510 and 1.6536.