GBP/USD fails to gather momentum after US data

GBP/USD edged a tad higher at the beginning of the New York session as the greenback weakened on the back of disappointing US durable goods orders data.

US durable goods orders fell 4.0% in June, below the 1.1% drop expected and marking the largest decline since August 2014.     

GBP/USD rose a few pips to the 1.3120 zone but failed to gather momentum and remained capped by the 20-hour SMA. At time of writing, the pair is trading at 1.3117, still 0.08% down on the day.

Investors remain sidelined ahead of the FOMC decision on monetary policy, to be announced later on the day.

GBP/USD levels to consider

In terms of technical levels, next resistances line up at 1.3179 (10-day SMA), 1.3315 (Jul 18 high) and 1.3480/82 (Jul 15 high/Jun 27 high). On the flip side, supports could be found at 1.3056 (Jul 26 low), 1.2970 (Jul 12 low), 1.2849 (Jul 11 low) and 1.2796 (31-year low, Jul 6).