1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

USD gathers pace, GBP/USD eyes 1.40 handle

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    The offered tone around USD gathered pace ahead of the US durable goods data, pushing the GBP/USD pair higher to 1.3990 levels.

    Eyes US data

    US data is likely to show the corporate spending as represented by the US durable goods orders ticked higher in January. Traders could look through the data if the figure prints in line with the estimates, since the Fed is more focused on the financial market volatility now.

    Apart from the US data, Brexit related news flow, if any, could singlehandedly change the intraday moves seen in Cable.

    GBP/USD Technical Levels

    The immediate resistance is seen at 1.4006 (127.2% Fibo expansion of 1.3878-1.3960-1.3903), above which the pair could test hurdle at 1.4035 (161.8% Fibo expansion). On the other hand, a break below 1.3963 (support on hourly chart) would open doors for a drop to 1.39 levels.
    For more information, read our latest forex news.
     

Share This Page