The GBP/USD fell below the 50-DMA located at 1.5325 after the data in the UK showed the total trade deficit in December rose more than expected, along with a sharp rise in the trade deficit with non-EU members.
GBP/USD remains above 1.53
So far, the pair has managed to sustain gains above 1.53 despite falling below the 50-DMA located at 1.5325 levels. The Pound suffered minor losses after the ONS said the trade in goods deficit grew to 10.154 billion pounds from 9.283 billion pounds in November. Exports in the month edged up 0.1%, while imports jumped by 2.7% due to rise in oil imports. The overall trade deficit widened in December to 2.895 billion pounds, the biggest since last July.
Investors shall now shift attention to the US non-farm payrolls data due for release later today.
GBP/USD Technical Levels
The pair currently trades 0.09% lower at 1.5314 levels. The immediate support is located at 1.5260, under which losses could be extended to 1.5220 levels. On the flip side, resistance is seen at 1.5325 (50-DMA) and 1.54 levels.
GBP/USD remains above 1.53
So far, the pair has managed to sustain gains above 1.53 despite falling below the 50-DMA located at 1.5325 levels. The Pound suffered minor losses after the ONS said the trade in goods deficit grew to 10.154 billion pounds from 9.283 billion pounds in November. Exports in the month edged up 0.1%, while imports jumped by 2.7% due to rise in oil imports. The overall trade deficit widened in December to 2.895 billion pounds, the biggest since last July.
Investors shall now shift attention to the US non-farm payrolls data due for release later today.
GBP/USD Technical Levels
The pair currently trades 0.09% lower at 1.5314 levels. The immediate support is located at 1.5260, under which losses could be extended to 1.5220 levels. On the flip side, resistance is seen at 1.5325 (50-DMA) and 1.54 levels.
