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11 Dec 2014
GBP/USD wavers below 1.5700 after US data
FXStreet (Córdoba) - GBP/USD moved off daily lows but the recovery was capped by the 1.5700 area, confining the pair to a range, with the latest string of US data having little impact on the dollar.
US data showed initial jobless claims fell to 294K last week, versus 295K expected, while November’s retail sales rose 0.7% and 0.5% excluding autos, beating forecast of 0.4% and 0.1% respectively.
GBP/USD wavered within a 30-pip range after data but finally returned to previous levels and it is currently trading at 1.5680, still 0.22% below its opening price.
Cable reached a 2-week high of 1.5756 during the Asian session, but was firmly rejected from highs and slid back below 1.5700 to a low of 1.5650 before finding support at the 100-hour SMA and stabilizing at current area.
US data showed initial jobless claims fell to 294K last week, versus 295K expected, while November’s retail sales rose 0.7% and 0.5% excluding autos, beating forecast of 0.4% and 0.1% respectively.
GBP/USD wavered within a 30-pip range after data but finally returned to previous levels and it is currently trading at 1.5680, still 0.22% below its opening price.
Cable reached a 2-week high of 1.5756 during the Asian session, but was firmly rejected from highs and slid back below 1.5700 to a low of 1.5650 before finding support at the 100-hour SMA and stabilizing at current area.