The EUR/USD pair jumped up yesterday on the back of disappointing data from the U.S. which again showed worse-than-expected results. The U.S. Dollar started to decline already last week when the U.S. GDP was released and pointed on slower economic growth recovery. We can see that the pair increase almost to 1.3700 level but reverse and now is slightly moving down. Today we should keep an eye to the German Unemployment Change at 7.55AM (GMT). During the American session (at 2.00PM GMT) the U.S. ISM Manufacturing PMI will come out. The trend is slightly bearish. The support is lying at 1.3600 and resistance at 1.3700.
The GBP/USD pair broke yesterday through its resistance climbed to the highest price since October 2008. The price increased by 90 pips and stopped on 1.7115 level where reversed. The main reason for this jump is the same as for the EUR/USD pair – the U.S. Dollar depreciation. Today we should expect some more movement on the pair connected to U.K. Manufacturing PMI data which are coming out at 8.30AM (GMT) and connected to ISM Manufacturing PMI data which is coming out at 2.00PM (GMT). The sentiment is slightly bearish. The support is lying at 1.7050 and resistance at 1.7115.
July 1, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair jumped up yesterday on the back of disappointing data from the U.S. which again showed worse-than-expected results. The U.S. Dollar started to decline already last week when the U.S. GDP was released and pointed on slower economic growth recovery. We can see that the pair increase almost to 1.3700 level but reverse and now is slightly moving down. Today we should keep an eye to the German Unemployment Change at 7.55AM (GMT). During the American session (at 2.00PM GMT) the U.S. ISM Manufacturing PMI will come out. The trend is slightly bearish. The support is lying at 1.3600 and resistance at 1.3700.
The GBP/USD pair broke yesterday through its resistance climbed to the highest price since October 2008. The price increased by 90 pips and stopped on 1.7115 level where reversed. The main reason for this jump is the same as for the EUR/USD pair – the U.S. Dollar depreciation. Today we should expect some more movement on the pair connected to U.K. Manufacturing PMI data which are coming out at 8.30AM (GMT) and connected to ISM Manufacturing PMI data which is coming out at 2.00PM (GMT). The sentiment is slightly bearish. The support is lying at 1.7050 and resistance at 1.7115.
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