29 Aug 2013
GBP/USD clings to 1.5500
FXstreet.com (Edinburgh) -The pound is struggling to keep the 1.5500 handle on Thursday, with the GBP/USD prolonging its correction lower from overnight peaks around 1.5550.
GBP/USD remains weaker
Increasing safe haven inflows due to geopolitical tensions around Syria and the readiness of the US to strike have been behind the USD rally as of late, collaborating in the downside despite the recently less dovish tone from Carney and the better UK fundamentals. Analysts at RBS assessed “it would appear that further positive data surprises will be harder to come by from now on… This suggests that GBP may also start to find it harder yards in the coming weeks, particularly with a lighter data calendar and the pair having failed to breach topside resistance around 1.5700/1.5750”.
GBP/USD relevant levels
The pair is now losing 0.20% at 1.5495 with the immediate support at 1.5449 (MA30d) followed by 1.5427 (low Aug.28) and then 1.5402 (rising channel base). On the upside, a surpass of 1.5548 (high Aug.29) would target 1.5553 (high Aug.28) en route to 1.5589 (MA10d).
GBP/USD remains weaker
Increasing safe haven inflows due to geopolitical tensions around Syria and the readiness of the US to strike have been behind the USD rally as of late, collaborating in the downside despite the recently less dovish tone from Carney and the better UK fundamentals. Analysts at RBS assessed “it would appear that further positive data surprises will be harder to come by from now on… This suggests that GBP may also start to find it harder yards in the coming weeks, particularly with a lighter data calendar and the pair having failed to breach topside resistance around 1.5700/1.5750”.
GBP/USD relevant levels
The pair is now losing 0.20% at 1.5495 with the immediate support at 1.5449 (MA30d) followed by 1.5427 (low Aug.28) and then 1.5402 (rising channel base). On the upside, a surpass of 1.5548 (high Aug.29) would target 1.5553 (high Aug.28) en route to 1.5589 (MA10d).