Cable slumped after revisions to GDP. The 0.8% quarterly growth in Q1 was in-line with expectations but trade numbers slipped and that was an excuse to sell.
The pair bottomed at 1.6851 as stocks turned higher following the US home sale numbers. Several more attempts at 1.6850 where defended and GBP/USD is now up to 1.6866.
Medium-sized demand stretches down to 1.6845 with more bids at 1.6830. Better bids at 1.6800.
There are sellers at the intraday high of 1.6918 and yesterday’s high of 1.6922 — both were brief spike highs. Strong offers extend up to 1.6935. Smaller offers at 1.6950 Major sellers closer to 1.7000.
