4 Sep 2013
GBP/USD holds at 1.5625 after Beige Book
FXstreet.com (San Francisco) - The Sterling remains above the 1.5625 area against the US Dollar just after the some bullish Fed's Beige Book release.
According to the Beige Book, US performed a "modest to Moderate growth" in the last month. "Hiring held steady or increased modestly" and the Fed "lending activity weakened some"
The GBP/USD is currently trading in consolidation mode following the latest bullish movement who drove the cable from 1.5595 to test 1-week highs at 1.5645. At this moment, the pair is trading at 1.5628, 0.45% positive on the day.
GBP/USD bias
The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutral.
Below the 1.5625, next supports are at 1.5600 and 1.5575. On the upside, resistances are at 1.5645, 1.5670 and 1.5700.
According to the Beige Book, US performed a "modest to Moderate growth" in the last month. "Hiring held steady or increased modestly" and the Fed "lending activity weakened some"
The GBP/USD is currently trading in consolidation mode following the latest bullish movement who drove the cable from 1.5595 to test 1-week highs at 1.5645. At this moment, the pair is trading at 1.5628, 0.45% positive on the day.
GBP/USD bias
The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutral.
Below the 1.5625, next supports are at 1.5600 and 1.5575. On the upside, resistances are at 1.5645, 1.5670 and 1.5700.