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14 May 2015
GBP/USD recovery finds resistance at 1.5770
FXStreet (Córdoba) - Cable failed to hold above 1.5800 and retreated during the American session. The pair dropped and reached a session low at 1.5738. Currently trades at 1.5750, marginally above yesterday's closing price.
During the last hours GBP/USD has been consolidating around 1.5750 moving in a range with resistance at 1.5770 and support 1.5740. A break below 1.5740 would expose daily lows that are located at 1.5725.
GBP losses strength but hold to gains
GBP/USD is rising for the eighth consecutive trading day in a row but today’s gains are the smallest, signaling a potential short term top has been reached earlier at 1.5818, the highest level since November 27.
Despite losing ground today, the pound remains among the top performers over the week boosted after the UK election results and economic data. It lost attractive yesterday after the presentation of the Bank of England’s inflation report.
During the last hours GBP/USD has been consolidating around 1.5750 moving in a range with resistance at 1.5770 and support 1.5740. A break below 1.5740 would expose daily lows that are located at 1.5725.
GBP losses strength but hold to gains
GBP/USD is rising for the eighth consecutive trading day in a row but today’s gains are the smallest, signaling a potential short term top has been reached earlier at 1.5818, the highest level since November 27.
Despite losing ground today, the pound remains among the top performers over the week boosted after the UK election results and economic data. It lost attractive yesterday after the presentation of the Bank of England’s inflation report.