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Friday, May 27th
GBP/USD was trading in 25-pips narrow range between 1.4659 and 1.4682 handling throughout the Asian session. The pair has retreated from almost four-week highs above 1.47 level and now consolidates entrenched positions. As the UK data calendar is empty for today traders will focus on Q1 US GDP print and hawkish comments from Fed Chair Yellen that will provide fresh incentives for the pair. At the moment the pair trades at 1.4666 spot with todays approximate support and resistance levels at 1.4582 and 1.4782
EUR/USD is trading slightly higher today against previous day, but still under the 1.12 resistance level. Today expected that USD bulls would take control over the pair, as traders will closely watch for US major releases such as US GDP report, which most likely will improve to 0.9% from the previous 0.5% and Fed Chair Yellen’s speech that will provide some bid-tone for the US currency across the board. Meanwhile, trades activity will be limited today as Memorial Day celebrations begin later tonight. Now pair trades at 1.1180 spot, with todays support and resistance levels located at 1.1117 and 1.1253 spots
USD/CHF struggles to break through key resistance level at 0.99. The pair was hovering in 10 pips narrow range this morning after spiking this month low at 0.9872 spot. Today traders will focus on US Q1 GDP and Fed Chair Yellen’s speech, as surprisingly strong numbers in GDP would definitely trigger a bullish spike in the pair. At the moment pair is trading at 0.9897, meeting resistance just before 0.99 level. Support and resistance level for the pair are located at 0.9842 and 0.9952.
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