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31 Aug 2015
GBP/USD deflates to 1.5420
FXStreet (Edinburgh) - The sterling is now receding from overnight tops near 1.5440 vs. the dollar, dragging GBP/USD to the 1.5420/15 band.
GBP/USD retakes 1.5400
A better sentiment in the risk appetite at the beginning of the week is currently allowing the pair to rebound from last week’s deep pullback to multi-month troughs near 1.5330, recovering the 1.5400 mark and beyond.
The pound has also found extra support after Governor M.Carney has ruled out a change of plans in the UK economy following the recent effervescence in Chinese markets and jitters regarding the health of the economy.
GBP/USD levels to watch
As of writing the pair is advancing 0.18% at 1.5423 and a break above 1.5443 (high Aug.28) would open the door to 1.5505 (high Aug.27) and finally 1.5717 (high Aug.26). On the flip side, the immediate support aligns at 1.5335 (low Aug.28) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8).
GBP/USD retakes 1.5400
A better sentiment in the risk appetite at the beginning of the week is currently allowing the pair to rebound from last week’s deep pullback to multi-month troughs near 1.5330, recovering the 1.5400 mark and beyond.
The pound has also found extra support after Governor M.Carney has ruled out a change of plans in the UK economy following the recent effervescence in Chinese markets and jitters regarding the health of the economy.
GBP/USD levels to watch
As of writing the pair is advancing 0.18% at 1.5423 and a break above 1.5443 (high Aug.28) would open the door to 1.5505 (high Aug.27) and finally 1.5717 (high Aug.26). On the flip side, the immediate support aligns at 1.5335 (low Aug.28) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8).