26 May 2015
GBP/USD trims losses and rises to 1.5410
FXStreet (Córdoba) - Cable moved off daily lows and climbed back above 1.5400 as the US dollar loses steam in the market. GBP/USD bottomed earlier at 1.5352, the lowest level since May 8 but then rebounded.
Recently rose to 1.5413, hitting the highest level for the American session. The short term outlook still looks bearish but the pound could gain momentum if it manages to rise above the 1.5420/25 area that capped the upside during the European session.
Currently is trading at 1.5385, down 0.50% for the day, falling for the third day in a row. From Thursday’s high it has fallen more than 300 pips, amid a stronger US dollar. Despite falling against greenback, the pound is the best performer among European currencies.
Recently rose to 1.5413, hitting the highest level for the American session. The short term outlook still looks bearish but the pound could gain momentum if it manages to rise above the 1.5420/25 area that capped the upside during the European session.
Currently is trading at 1.5385, down 0.50% for the day, falling for the third day in a row. From Thursday’s high it has fallen more than 300 pips, amid a stronger US dollar. Despite falling against greenback, the pound is the best performer among European currencies.