Cable breaks major support after UK GDP data, targets 1.4980
UK Q3 GDP 2nd release QOQ rose at 0.5% compared to forecast of 0.5% and YOY came at 2.3% compared to forecast of 2.3%.
But business investment (2.2% vs. 0.8% exp) and private consumption (0.8% vs 0.7% exp) has shown slight increase compared to previous quarter.
The pair is facing strong support around 1.5050 and break below targets 1.5028/1.4980 level.
On the higher side major resistance is around 1.5130 and break above targets 1.5160/1.5220.
The minor resistance is around 1.5105.
It is good to sell around 1.5040-45 with SL around 1.5085 for the TP of 1.5000/1.4980
But business investment (2.2% vs. 0.8% exp) and private consumption (0.8% vs 0.7% exp) has shown slight increase compared to previous quarter.
The pair is facing strong support around 1.5050 and break below targets 1.5028/1.4980 level.
On the higher side major resistance is around 1.5130 and break above targets 1.5160/1.5220.
The minor resistance is around 1.5105.
It is good to sell around 1.5040-45 with SL around 1.5085 for the TP of 1.5000/1.4980