24 Aug 2015
GBP/USD flirts with 1.5800
FXStreet (Buenos Aires) - The GBP/USD flirted with the 1.5800 level at the beginning of the US session, as the global sell-off in stocks forced the Dow Jones down 911 points lower immediately after the opening. Wall Street collapses on global equities sell-off, with the USD plummeting alongside with stocks against most of its major rivals.
The GBP/USD pair trades at fresh 2-months highs, with the Pound underperforming, compared to other European currencies. Earlier in the day, the pair fell down to 1.5629, finding buyers around a daily ascendant trend line coming from August low of 1.5423.
According to Valeria Bednarik, FXStreet.com chief analyst, "there's little to do against current market movements, and despite the British Pound is lagging, the upside remains favored." The pair is now quoting in the 1.5770 region, a strong long term static level according to her view, which means that if the price holds above it, "a break through 1.5800 seems likely, with the next short term resistances at 1.5840 and 1.5890."
The GBP/USD pair trades at fresh 2-months highs, with the Pound underperforming, compared to other European currencies. Earlier in the day, the pair fell down to 1.5629, finding buyers around a daily ascendant trend line coming from August low of 1.5423.
According to Valeria Bednarik, FXStreet.com chief analyst, "there's little to do against current market movements, and despite the British Pound is lagging, the upside remains favored." The pair is now quoting in the 1.5770 region, a strong long term static level according to her view, which means that if the price holds above it, "a break through 1.5800 seems likely, with the next short term resistances at 1.5840 and 1.5890."