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9 Jun 2014
GBP/USD awaits key data releases
FXStreet (Guatemala) - GBP/USD is trading at 1.6793, down -0.04% on the day, having posted a daily high at 1.6834 and low at 1.6784.
While the pound is flirting with the 1.68 handle still key market data is on the horizon. The global strategy team at Brown Brothers Harriman noted that the UK reports industrial output figures on June 10 but said, however, the employment data the following day is more important. “The claimant count is expected to fall another 20-25k, and theunemployment rate is likely to have ticked down to 6.7%. The data will feed the ongoing debate about the extent of the economic slack. This in turn may see the gradual emergence of a more hawkish wing at the BOE, which could lead to dissents at the MPC later this year”.
GBP/USD Levels
Spot is presently trading at 1.6795, and next resistance can be seen at 1.6802 (Hourly 20 EMA), 1.6804 (Daily Open), 1.6810 (Daily Classic PP), 1.6820 (Weekly High) and 1.6834 (Daily High). Next support to the downside can be found at 1.6794 (Daily 20 SMA), 1.6784 (Daily Low), ) and 1.6774 (Hourly 100 SMA).
While the pound is flirting with the 1.68 handle still key market data is on the horizon. The global strategy team at Brown Brothers Harriman noted that the UK reports industrial output figures on June 10 but said, however, the employment data the following day is more important. “The claimant count is expected to fall another 20-25k, and theunemployment rate is likely to have ticked down to 6.7%. The data will feed the ongoing debate about the extent of the economic slack. This in turn may see the gradual emergence of a more hawkish wing at the BOE, which could lead to dissents at the MPC later this year”.
GBP/USD Levels
Spot is presently trading at 1.6795, and next resistance can be seen at 1.6802 (Hourly 20 EMA), 1.6804 (Daily Open), 1.6810 (Daily Classic PP), 1.6820 (Weekly High) and 1.6834 (Daily High). Next support to the downside can be found at 1.6794 (Daily 20 SMA), 1.6784 (Daily Low), ) and 1.6774 (Hourly 100 SMA).