TenkoFX - Analytics

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    GBP/USD stays down after US data

    GBP/USD edged a few pips higher but overall remained near monthly lows, following the latest string of US data, which showed retail sales and import prices rose more than expected in May.However, the dollar failed to benefit from stronger-than-expected data, leaving GBP/USD little changed at the 1.4150 zone, from 1.4125 pre releases. At time of writing, the pair was trading at 1.4152, still 0.76% below its opening price, having hit a 1-month low of 1.4107 in recent dealings.Cable remains under broad pressure amid growing uncertainty over the EU referendum, while investors refrain from taking big positions ahead of the Federal Reserve meeting.GBP/USD levels to watchIn terms of technical levels, immediate supports are seen at 1.4107 (Jun 14 low), 1.4089 (Apr 14 low) and 1.4040 (Apr 8 low). On the other hand, next resistances could be faced at 1.4265 (Jun 14 high), 1.4350 (100-day SMA) and 1.4428 (50-day SMA).


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