GBP/USD fades the spike to 1.5550
FXStreet (Edinburgh) – The buying interest remains unchanged around the pound on Thursday, lifting GBP/USD to daily tops in the mid-1.5500s albeit losing impetus afterwards.
GBP/USD firmer ahead of FOMC
Spot has extended its consolidative pattern around 1.5500 GBP/USDthe figure seen overnight into the European session today, although it has managed to break above it amidst a better tone in the risk appetite trends.
In the data space, UK Retail Sales have disappointed market expectations during the last month, although traders have quickly shrugged off the poor results, leaving the buying interest pretty much intact around the pair.
GBP/USD significant levels
As of writing the pair is advancing 0.24% at 1.553 GBP/USD0 with the next hurdle at 1.5549 (high Sep.17) followed by 1.5606 (high Aug.10) and finally 1.5660 GBP/USD (high Aug.12). On the other hand, a breakdown of 1.5486 GBP/USD (low Sep.17) would aim for 1.5373 (low Sep.14) and then 1.5330 (low Sep.16).
The buying interest remains unchanged around the pound on Thursday, lifting GBP/USD to daily tops in the mid-1.5500s albeit losing impetus afterwards…
(Market News Provided by FXstreet)