FXstreet.com (Barcelona) - Currently trading at 1.6179, GBP/USD has caught some upside momentum this afternoon following soft EU Consumer Confidence data and bullish Philly Fed figures.
EU Consumer Confidence disappointed estimates by registering at -25.9/-24 whilst in the US Philly Fed Manufacturing data surprised to the upside at -1.9/-4. By and large, GBP/USD looks largely unmoved by the data, despite an initial move lower, but looks content to continue to range between 1.617 and 1.62.
Valeria Bednarik , Independent Analyst for FXStreet.com notes that the pair traded heavy this Thursday, holding strong mid term support at 1.616. She sees upcoming support at 1.616/1.612/1.608 and resistance at 1.62/1.623/1.6265.
Equities are down as we approach the European close whilst commodities look to be clawing back today losses.
EU Consumer Confidence disappointed estimates by registering at -25.9/-24 whilst in the US Philly Fed Manufacturing data surprised to the upside at -1.9/-4. By and large, GBP/USD looks largely unmoved by the data, despite an initial move lower, but looks content to continue to range between 1.617 and 1.62.
Valeria Bednarik , Independent Analyst for FXStreet.com notes that the pair traded heavy this Thursday, holding strong mid term support at 1.616. She sees upcoming support at 1.616/1.612/1.608 and resistance at 1.62/1.623/1.6265.
Equities are down as we approach the European close whilst commodities look to be clawing back today losses.
