25 Aug 2015
GBP/USD flirting with 1.5800
FXStreet (Edinburgh) - The sterling remains on the positive footing vs. the dollar on Tuesday, lifting GBP/USD to the 1.5800 neighbourhood.
GBP/USD bolstered by risk-appetite
The pair is advancing for the third consecutive week so far, propped up by expectations of a BoE rate hike sooner than market expectations, while on the other hand, investors continue to push back the timing of a rate hike by the Federal Reserve.
Ahead in the session, US New Home Sales, Markit’s Services PMI and Consumer Confidence will dictate the USD’s dynamics, while the most relevant release in the UK economy will come on Thursday with the flash Q2 GDP figures.
GBP/USD levels to watch
At the moment the pair is gaining 0.15% at 1.5800 with the next hurdle at 1.5818 (high Aug.25) followed by 1.5851 (high Jun.17) and finally 1.5930 (high Jun.18). On the other hand, a break below 1.5752 (low Aug.25) would target 1.5658 (low Aug.21) en route to 1.5630 (low Aug.24).
GBP/USD bolstered by risk-appetite
The pair is advancing for the third consecutive week so far, propped up by expectations of a BoE rate hike sooner than market expectations, while on the other hand, investors continue to push back the timing of a rate hike by the Federal Reserve.
Ahead in the session, US New Home Sales, Markit’s Services PMI and Consumer Confidence will dictate the USD’s dynamics, while the most relevant release in the UK economy will come on Thursday with the flash Q2 GDP figures.
GBP/USD levels to watch
At the moment the pair is gaining 0.15% at 1.5800 with the next hurdle at 1.5818 (high Aug.25) followed by 1.5851 (high Jun.17) and finally 1.5930 (high Jun.18). On the other hand, a break below 1.5752 (low Aug.25) would target 1.5658 (low Aug.21) en route to 1.5630 (low Aug.24).