FXstreet.com (Barcelona) - Rock solid data in the UK allowed the GBP/USD to give an extra push to the upside, printing a high at 1.6077, as it retraces yesterday's decline.
The realized distributive trades in the UK jumped by 30% in October, according to the CBI survey, beating the 7% consensus. In September, data had risen only by 6%. Ahead in the day, and while the US markets remain closed due to Hurricane Sandy, the US Redbook Index and the S&P/Case-Shiller Home Prices are expected to be released at 12:55 GMT and 13:00 GMT.
“Yesterday's slide below 1.6050 was limited above 1.5997 support area and current intraday bias is already positive above 1.6040 minor support, so my outlook is bullish, for a rise through 1.6145, towards 1.6308 high”, wrote Deltastock.com analyst Stoyan Mihaylov.
The realized distributive trades in the UK jumped by 30% in October, according to the CBI survey, beating the 7% consensus. In September, data had risen only by 6%. Ahead in the day, and while the US markets remain closed due to Hurricane Sandy, the US Redbook Index and the S&P/Case-Shiller Home Prices are expected to be released at 12:55 GMT and 13:00 GMT.
“Yesterday's slide below 1.6050 was limited above 1.5997 support area and current intraday bias is already positive above 1.6040 minor support, so my outlook is bullish, for a rise through 1.6145, towards 1.6308 high”, wrote Deltastock.com analyst Stoyan Mihaylov.
