GBP/USD muted on Durable Goods orders higher than expectations but not good enough.

FXstreet.com (London) - Durable goods came in at 3.3% against consensus 1.5%. However, these numbers are not as good as the headline prints on average and GDP may be marked down on such results.

The pair have been oscillating around the 1.5100 figure in a 40 pip range throughout the morning session in London. Before the data, the pair are trading at the low testing 1.5080 support and didn’t react much at all on the data’s official release to the market. On the charts, the pair are still trading below the 61.8% correction and were resisted at 1.5130 and the possibility of extending the bearish move is valid today, with daily MA’s and momentum indicating a move to the downside.

On the otherhand, a break above 1.5130 , breaking the resistace line and a seriies of higher lows could keep the pair bid above 1.5100 for the time being. Next resistance is 1.5170. Near term support is at the pivot point 1.5080 before 1.5035 and key plays out at 1.4995. 1.4830 (March 2013 and 2009 Low).