GBPUSD Gross Domestic Product on Tap

The GBPUSD has been sidelined for most of the week waiting for the release of the GDP figures.  The report is due at 4:30 GMT.  A print below expectations at -.2% could spark expectations of more government easing in the future and push the pair lower.  A positive print could ease pressure on the pair and cause a short squeeze higher.  As of the close of trading Tuesday the pair is pivoting at the 1.55 level.  A break of this level could expose 1.5460 followed by 1.54.  A hold of the .155 level and the cross could rally towards the 1.5580.

Pivot            1.55

Sup               1.5460                      1.54

Res                1.5580

Keane Insight's:  Waiting for GDP.  Should consolidate until then.

For access to Keane Insight’s and current trade stream http://wp.me/P2pFeJ-1IT  .

First week is free.    To follow on twitter look for THE KEANE @chrisfkeane

Leave a Reply