26 Jul 2013
GBP/USD is fluctuating around 1.5400
FXstreet.com (London) - GBP/USD, so far, has been resting between 1.5373 and 1.5418 to close up the week as we move into US markets.
GBP/USD rallied yesterday in NY to gain back lost ground after the release of UK GDP when the pound initially dropped a big figure. Markets are not particularly supporting the pound on positive data and with that number coming in line with expectations; it simply wasn’t a good enough number. With GBP at these levels, this is more about the dollar that retains a heavy undertone amid the Fed’s policy meeting.
GBP/USD stabilising
GBP/USD has moved to and has formed a base around 1.5400 and remains in positive territory with RSI remaining below 70, allowing more room for the upside. The next level of interest is 1.5435 and should that be breached it could allow for upside gains towards key resistance at 1.5550.
GBP/USD rallied yesterday in NY to gain back lost ground after the release of UK GDP when the pound initially dropped a big figure. Markets are not particularly supporting the pound on positive data and with that number coming in line with expectations; it simply wasn’t a good enough number. With GBP at these levels, this is more about the dollar that retains a heavy undertone amid the Fed’s policy meeting.
GBP/USD stabilising
GBP/USD has moved to and has formed a base around 1.5400 and remains in positive territory with RSI remaining below 70, allowing more room for the upside. The next level of interest is 1.5435 and should that be breached it could allow for upside gains towards key resistance at 1.5550.