GBP supported on poor US data

FXStreet (Guatemala) - GBP/USD has been above the 200 DMA again and was through onto the 1.67 handle prior to the poor Consumer Confidence data from the US.

Consumer Confidence came in below expectations and previous month. The data for February read 78.1 vs 80.0 expected and 79.4 previous.

GBP/USD Levels

The 20 DMA is 1.6529, the 50 DMA is 1.6475 and the 200 DMA is 1.5910. RSI (14) reads 64.11. Supports are ascending from 1.6510, 1.6538, 1.6559, 1.6583, 1.6600 (fib support) and 1.6679. Spot is 1.6717 with resistances at 1.6745 and 1.6757.

Feb 25, 2014

US: Consumer Confidence drops in February against forecasts

US Consumer Confidence slid to 78.1 in February, from 79.4 in January, according to data released by the Conference Board. Analysts expected a rise to 80.0.

US: Richmond Fed Manufacturing Index drops to -6 in February

The US Richmond Fed Manufacturing Index declined to -6 in February from 12 in January, the Federal Reserve Bank of Richmond informed today. This is the lowest level registered by the indicator since July 2013 when it stood at -11.