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FXstreet.com (Barcelona) - The GBP/USD bounced back after testing the psychological support at 1.5100 and is moving back to its daily highs again, around 1.5145. The pair is currently trading at 1.5120/30 zone.
The March housing market index by NAHB eased from 46 to 44, contradicting the consensus for a rise to 47. The EMU trade surplus eased from €10.3B to €9.0B in January (consensus of €3.4B), with non-seasonal data becoming deficit from €10.8B to €-3.9B, with consensus at €-3.5B.
The economic calendar showed an Italian global trade deficit in January, at €-1.619B, instead of the €2.110B surplus expected following December's €2.105B. Trade within the EU improved from €-1.212B to €0.663B.
“The bias here remains bullish above 1.5070 support area and my outlook is positive, for a rise through 1.5197, en route to 1.5330”, wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial support at 1.5070, followed by the major hurdle at 1.4980.