GBP/USD retreat from days high after US GDP report

FXStreet The EUR/USD failed again because the 1,0950 to overcome and he retired after the publication of the US GDP for the 1,0910 back.

The Couple ran into new offerings, even though the U.S. economy was data disappointing. The US GDP rose in the 1. Quarter of 2017 compared to the previous year by 0.7 %, which is much worse than the previous 2.1% and the estimate of 1.2 %.

The higher-than-expected increase in the GDP price index and the labour costs to support the inflationary pressure on the economy and the prospects for additional Fed interest rate increases in the year 2017. The US Treasury yields are also rising.

The rising bond yields will support the demand for the USD and so the Pair removed from a 5.5-month, which has been formed with the better-than-expected Euro zone CPI.

Next, the Chicago PMI and the US Reuters/Michigan consumer sentiment index released.

Technical Prospects

“The next strong resistance lies at 1,0950, the week high and the momentum to 1,1000 and 1,1045 will be stronger. On the other hand, the 1,0850 provides immediate support, followed by the 1,0820-week low. Under the last level of the downward momentum is increasing in the direction of 1,0730, where, at the end of the week eröffnungsgap is closed,” writes FXStreet chief analyst Valeria Bednarik.

EUR/USD: prospects remain toppish

** FXStreet News Editorial, FXStreet**

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