GBP/USD Surpasses 1.4600 on Disappointing US Data
GBP/USD pushed to fresh 2 ½-month highs above 1.4600 as the greenback took a hit following disappointing US durable goods orders data.
US
durable goods orders rose 0.8% in March from a month earlier, missing
expectations of a 1.8% increase, while February orders fell 3.1%,
revised down from a 3% drop initially estimated. Excluding
transportation, orders fell 0.2% well below the 0.5% increase expected
by analysts.
GBP/USD rose through the 1.46 mark and stretched
to its highest level since early February at 1.4616. Cable was last
trading at 1.4610, recording a 0.42% gain on Tuesday, the daily third
advance in a row.
GBP/USD levels to watch
In
terms of technical levels, next resistances are seen at 1.4667 (Feb 4
high) and 1.4700 (psychological level). On the other hand, supports
could be faced at 1.4477 (Apr 26 low), 1.4421 (100-day SMA) and 1.4402
(Apr 25 low).
