GBP/USD depressed post-UK data, near 1.3060

Pablo Piovano FXStreet

The Sterling keeps the negative note unchanged on Tuesday, with GBP/USD hovering over the 1.3070/65 band in the wake of UK releases.

GBP/USD unchanged after UK results

Spot kept the composure after less auspicious results from the UK docket published today.

In fact, Mortgage Approvals, Net Lending to Individuals and BoE’s Consumer Credit have all come in below estimates, while M4 Money Supply has expanded 3.9% on a year to July.

On the USD-side, house prices tracked by the S&P/Case-Shiller index is due later in the NA session followed by CB’s Consumer Confidence.

GBP/USD levels to consider

As of writing the pair is losing 0.28% at 1.3068 facing the next support at 1.3000 (psychological level) followed by 1.2863 (low Aug.15) and finally 1.2849 (low Jul.11). On the other hand, a breakout of 1.3208 (resistance trend line off July’s high) would open the door to 1.3321 (23.6% of the post-Brexit down move) and then 1.3373 (high Aug.3).

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 1.3179

43% Bullish
43% Bearish
14% Sideways

Bias Bullish

1 Month

Avg Forecast 1.3019

29% Bullish
64% Bearish
7% Sideways

Bias Bearish

1 Quarter

Avg Forecast 1.2792

12% Bullish
75% Bearish
12% Sideways

Bias Bearish

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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