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19 Mar 2014
GBP/USD in highs post-UK data
FXStreet (Edinburgh) - The sterling intensifies its intraday bull run, lifting the GBP/USD above 1.6640 after UK data releases.
GBP/USD near 1.6640 on batter employment figures
The unemployment in the British economy dropped by 34.6K in January, bettering estimates for a drop of 25K. The unemployment rate stayed unchanged at 7.2% in the three months ended in January, with the economy creating 103K jobs during that period. Further job data showed Average Earnings surpassing expectations (inc. bonus up 1.4%, exc. bonus up 1.3%). Regarding the BoE minutes, the MPC vote was unanimous to keep the status quo: refi rate at 0.5% and purchase facility at £376 billion.
GBP/USD levels to watch
The pair is now advancing 0.18% at 1.6623 with the next hurdle at 1.6644 (10-d MA) followed by 1.6649 (high Mar.18) and finally 1.6667 (high Mar.17). On the flip side, a breakdown of 1.6545 (low Mar.18) would open the door to 1.6500 (psychological level) and then 1.6425 (low Feb.12).
GBP/USD near 1.6640 on batter employment figures
The unemployment in the British economy dropped by 34.6K in January, bettering estimates for a drop of 25K. The unemployment rate stayed unchanged at 7.2% in the three months ended in January, with the economy creating 103K jobs during that period. Further job data showed Average Earnings surpassing expectations (inc. bonus up 1.4%, exc. bonus up 1.3%). Regarding the BoE minutes, the MPC vote was unanimous to keep the status quo: refi rate at 0.5% and purchase facility at £376 billion.
GBP/USD levels to watch
The pair is now advancing 0.18% at 1.6623 with the next hurdle at 1.6644 (10-d MA) followed by 1.6649 (high Mar.18) and finally 1.6667 (high Mar.17). On the flip side, a breakdown of 1.6545 (low Mar.18) would open the door to 1.6500 (psychological level) and then 1.6425 (low Feb.12).