14 Aug 2015
GBP/USD post weekly gains; still testing 1.5670/90
FXStreet (Córdoba) - The pound finished the week higher against the US dollar that weakened versus European currencies amid some expectations of a delay in Federal Reserve liftoff.
A week ago GBP/USD finished below 1.5500 affected by the minutes and the Quarterly Inflation report from the Bank of England. Then stabilized around 1.5490 and started to rally on Monday during the American session.
It kept a bullish tone during the rest of the week an approached 1.5670. On Friday, is about to end slightly below the mentioned price level, trading around 1.5650.
GBP/USD key levels
The area between 1.5660 and 1.5700 continues to be a very strong resistance zone that has been limiting the upside since July. A break higher is likely to trigger a bullish run.
On the opposite direction, 1.5450 has become an important medium term support, a consolidation below could open the doors to a stronger US dollar.
Next week events
In the US, the most important reports will be release on Wednesday with the Fed minutes of the latest meeting and the CPI report. Regarding the pound, inflation data on Tuesday and retail sales numbers on Thursday from the United Kingdom could impact the pound.
A week ago GBP/USD finished below 1.5500 affected by the minutes and the Quarterly Inflation report from the Bank of England. Then stabilized around 1.5490 and started to rally on Monday during the American session.
It kept a bullish tone during the rest of the week an approached 1.5670. On Friday, is about to end slightly below the mentioned price level, trading around 1.5650.
GBP/USD key levels
The area between 1.5660 and 1.5700 continues to be a very strong resistance zone that has been limiting the upside since July. A break higher is likely to trigger a bullish run.
On the opposite direction, 1.5450 has become an important medium term support, a consolidation below could open the doors to a stronger US dollar.
Next week events
In the US, the most important reports will be release on Wednesday with the Fed minutes of the latest meeting and the CPI report. Regarding the pound, inflation data on Tuesday and retail sales numbers on Thursday from the United Kingdom could impact the pound.