12 Aug 2015
GBP/USD ready to test July highs
FXStreet (Córdoba) - GBP/USD continued to rise during the American session and reached the strongest level since July 30. The pair broke above 1.5630 and climbed to 1.5659. It was trading at 1.5640, 60 pips above yesterday’s closing price.
Cable erased previous losses and approached the barrier around 1.5670/80, that capped the upside during July. The last time the pair closed above 1.5670 was in June.
A weak USD, offset soft UK data
Greenback is falling sharply across the board and it has erased gains even against commodity currencies that dropped after another decline of the Chinese Yuan. The pound also lost ground on Asian hours, then recovered but revisited the lows after employment numbers from the United Kingdom.
GBP/USD bottomed at 1.5530 and then changed the intraday trend. It accelerated to the upside after breaking above 1.5610 and it was holding a bullish tone near 1.5670.
Cable erased previous losses and approached the barrier around 1.5670/80, that capped the upside during July. The last time the pair closed above 1.5670 was in June.
A weak USD, offset soft UK data
Greenback is falling sharply across the board and it has erased gains even against commodity currencies that dropped after another decline of the Chinese Yuan. The pound also lost ground on Asian hours, then recovered but revisited the lows after employment numbers from the United Kingdom.
GBP/USD bottomed at 1.5530 and then changed the intraday trend. It accelerated to the upside after breaking above 1.5610 and it was holding a bullish tone near 1.5670.