21 May 2015
GBP/USD consolidates gains above 1.5650
FXStreet (Córdoba) - Cable stabilized during the American session near daily highs and consolidated strong daily gains as it trades above 1.5650, up 0.90% for the day, having the biggest rise in two weeks.
The pound jumped on European hours supported by economic data from the UK and then confirm those gains. Is about to end the day as the best performer among majors.
A better-than-expected reading on retail sales pushed the pair to break 1.5580. Then peaked at 1.5700 but it found resistance and pulled back. The retreated from the highs found support around 1.5650.
Despite rising for the second day in a row, GBP/USD is still lower for the week but far from the lows. On Tuesday cable bottomed at 1.5446, since then it has risen more than 200 pips, recovering and moving toward the level it had at the beginning of the week at 1.5735.
The pound jumped on European hours supported by economic data from the UK and then confirm those gains. Is about to end the day as the best performer among majors.
A better-than-expected reading on retail sales pushed the pair to break 1.5580. Then peaked at 1.5700 but it found resistance and pulled back. The retreated from the highs found support around 1.5650.
Despite rising for the second day in a row, GBP/USD is still lower for the week but far from the lows. On Tuesday cable bottomed at 1.5446, since then it has risen more than 200 pips, recovering and moving toward the level it had at the beginning of the week at 1.5735.