FXstreet.com (Córdoba) - The dollar extended intraday gains versus most competitors after a report showed US orders for durable goods jumped in July, although excluding transportation orders declined for the second month in a row.
GBP/USD fell below previous daily low around 1.5822 and slid to 1.5815 before bouncing slightly. At time of writing, the Cable is quoting at the 1.5825 zone, still down 0.2% on the day.
"The pair broke its trading range of 1.5850-65 on the down side and stands on its support of 21 EMA (1.5825-20) on the four hourly charts and can bounce back from here", says the Kshitij Consultancy Services Team. "If this support is broken the pair move lower towards 1.5760. The pair over medium term is bullish and is expected to move up after it takes support".
US durable goods orders rose 4.2% in July, while excluding transport they fell 0.4%. However, orders for core capital goods excluding defense and transportation, a key barometer of US business spending, declined 3.4% last month.
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