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26 Apr 2016
GBP/USD surpasses 1.4600 on disappointing US data
GBP/USD pushed to fresh 2 ½-month highs above 1.4600 as the greenback took a hit following disappointing US durable goods orders data.
US durable goods orders rose 0.8% in March from a month earlier, missing expectations of a 1.8% increase, while February orders fell 3.1%, revised down from a 3% drop initially estimated. Excluding transportation, orders fell 0.2% well below the 0.5% increase expected by analysts.
GBP/USD rose through the 1.46 mark and stretched to its highest level since early February at 1.4616. Cable was last trading at 1.4610, recording a 0.42% gain on Tuesday, the daily third advance in a row.
GBP/USD levels to watch
In terms of technical levels, next resistances are seen at 1.4667 (Feb 4 high) and 1.4700 (psychological level). On the other hand, supports could be faced at 1.4477 (Apr 26 low), 1.4421 (100-day SMA) and 1.4402 (Apr 25 low).
US durable goods orders rose 0.8% in March from a month earlier, missing expectations of a 1.8% increase, while February orders fell 3.1%, revised down from a 3% drop initially estimated. Excluding transportation, orders fell 0.2% well below the 0.5% increase expected by analysts.
GBP/USD rose through the 1.46 mark and stretched to its highest level since early February at 1.4616. Cable was last trading at 1.4610, recording a 0.42% gain on Tuesday, the daily third advance in a row.
GBP/USD levels to watch
In terms of technical levels, next resistances are seen at 1.4667 (Feb 4 high) and 1.4700 (psychological level). On the other hand, supports could be faced at 1.4477 (Apr 26 low), 1.4421 (100-day SMA) and 1.4402 (Apr 25 low).