13 Aug 2015
GBP/USD flat lining above 1.5600
FXStreet (Edinburgh) - The sterling is extending its sideline pattern vs. the dollar on Thursday, taking GBP/USD to navigate the area around 1.5630.
GBP/USD focus on risk trends, US data
The generalized selling interest around the dollar as of late has lifted spot from weekly lows around the mid-1.5500s, although gains seems to have been capped around the key resistance region at 1.5660/70.
The pair has managed to shrug off poor results from the UK labour market during July, recovering ground lost following a softer tone in the greenback after the PBoC moves. Ahead in the session, US retail sales will be the main event with consensus looking for a monthly advance of 0.5%.
GBP/USD levels to consider
At the moment the pair is up 0.05% at 1.5620 facing the next resistance at 1.5637 (high Aug.13) followed by 1.5660 (high Aug.12) and finally 1.5690 (high Jul.29). On the flip side, a breakdown of 1.5536 (low Aug.12) would expose 1.5458 (low Aug.10) and then 1.5425 (low Aug.7).
GBP/USD focus on risk trends, US data
The generalized selling interest around the dollar as of late has lifted spot from weekly lows around the mid-1.5500s, although gains seems to have been capped around the key resistance region at 1.5660/70.
The pair has managed to shrug off poor results from the UK labour market during July, recovering ground lost following a softer tone in the greenback after the PBoC moves. Ahead in the session, US retail sales will be the main event with consensus looking for a monthly advance of 0.5%.
GBP/USD levels to consider
At the moment the pair is up 0.05% at 1.5620 facing the next resistance at 1.5637 (high Aug.13) followed by 1.5660 (high Aug.12) and finally 1.5690 (high Jul.29). On the flip side, a breakdown of 1.5536 (low Aug.12) would expose 1.5458 (low Aug.10) and then 1.5425 (low Aug.7).