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28 Feb 2014
GBP/USD bounces at 1.6680 following US GDP
FXStreet (San Francisco) - The Sterling is currently recovering ground against the US dollar following the weaker than expected US Q4 GDP second estimate of 2.4%. The GBP/USD bounced at 1.6680 to price at 1.3725.
The second estimate of the Q4 US GDP shows a growth of 2.4%, below expectations of 2.5% and revised down from prior reading of 3.2%.
The GBP/USD is currently trading at 1.6710, 0.16% positive in the day. The short term perspective is now slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI is bearish; however, the Momentum is bullish while the stochastic and the MACD are neutral.
GBP/USD levels
The GBP/USD would face resistance at 1.6770, 1.6800 and 1.6820. On the downside, supports are at 1.6680, 1.6660 and 1.6620.
The second estimate of the Q4 US GDP shows a growth of 2.4%, below expectations of 2.5% and revised down from prior reading of 3.2%.
The GBP/USD is currently trading at 1.6710, 0.16% positive in the day. The short term perspective is now slightly bullish according to the FXStreet trend index in the 15-minute chart. CCI is bearish; however, the Momentum is bullish while the stochastic and the MACD are neutral.
GBP/USD levels
The GBP/USD would face resistance at 1.6770, 1.6800 and 1.6820. On the downside, supports are at 1.6680, 1.6660 and 1.6620.