Back
20 Dec 2013
GBP/USD hits fresh lows after US data
FXstreet.com (Córdoba) - The GBP/USD fell to a marginal new low for the day at the beginning of the NY session after US GDP data surprised to the upside.
The new estimate of US GDP for the third quarter showed the economy grew by 4.1%, its fastest pace in 2 years, boosting the greenback across the board. The GBP/USD fell to a fresh low of 1.6315 although it quickly bounced back to the 1.6340 zone. At time of writing, the GBP/USD is trading at 1.6335, recording a 0.2% loss on the day.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate supports at 1.6315 (daily low), 1.6300 (psychological level) and 1.6285 (Dec 16 low). On the flip side, resistances are seen at the 1.6370 zone (daily highs) and 1.6397/1.6400 (Dec 19 high/psychological level) followed by 1.6465 (Dec 10 high) and 1.6483 (Dec 18 high).
The new estimate of US GDP for the third quarter showed the economy grew by 4.1%, its fastest pace in 2 years, boosting the greenback across the board. The GBP/USD fell to a fresh low of 1.6315 although it quickly bounced back to the 1.6340 zone. At time of writing, the GBP/USD is trading at 1.6335, recording a 0.2% loss on the day.
GBP/USD technical levels
In terms of technical levels, the GBP/USD could find immediate supports at 1.6315 (daily low), 1.6300 (psychological level) and 1.6285 (Dec 16 low). On the flip side, resistances are seen at the 1.6370 zone (daily highs) and 1.6397/1.6400 (Dec 19 high/psychological level) followed by 1.6465 (Dec 10 high) and 1.6483 (Dec 18 high).