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1 May 2013
Forex: GBP/USD jumps to test 1.5600 level, first time since Feb. 13
FXstreet.com (San Francisco) - The GBP/USD reacted to the upside following the weaker-than-expected ADP report with the cable jumping around 40 pips from 1.5560 to reach the highest level since February 13 at 1.5595, just ahead the 1.5600.
The ADP private employment report rose by 119K, below 150K consensus and 131K figures in March. The ADP reading in April is the lowest since November 2012.
The Sterling is trading 0.36% positive on the day against the US Dollar. Pair is trading slightly bearish according to the FXstreet.com trend index with indicators pointing mix as CCI signaling bullish while Momentum is bearish and MACD and Stochastic is neutral in the 15-minutes chart.
Above the 1.5600 area, next resistances are 1.5680 and the 1.5750 frontier. On the downside, supports are at 1.5560, 1.5525 and 1.5575.
The ADP private employment report rose by 119K, below 150K consensus and 131K figures in March. The ADP reading in April is the lowest since November 2012.
The Sterling is trading 0.36% positive on the day against the US Dollar. Pair is trading slightly bearish according to the FXstreet.com trend index with indicators pointing mix as CCI signaling bullish while Momentum is bearish and MACD and Stochastic is neutral in the 15-minutes chart.
Above the 1.5600 area, next resistances are 1.5680 and the 1.5750 frontier. On the downside, supports are at 1.5560, 1.5525 and 1.5575.