Forex: GBP/USD below 1.5700 as risk aversion sharpens

FXstreet.com (Barcelona) - The sterling is fighting hard to keep the 1.5700 handle on Monday, as pessimism is swelling among investors after gloomy comments by German officials and the Bundesbank regarding the ECB buying plan and the situation in the Greek front, ahead of Wednesday's meeting between Chancellor A.Merkel and PM Samaras in Berlin.

Light docket for the British economy ahead in the week, as Pubic Sector finances will be released tomorrow, BBA Mortgage Approvals on Thursday and the GDP figures for the second quarter on Friday (-0.5% exp.).

GBPUSD is now in red losing 0.02% at 1.5688 with the immediate support at 1.5678 (low Aug.20) followed by 1.5674 (low Aug.17) then 1.5636 (low Aug.16) and 1.5623 (MA30d).
On the flip side, a break above 1.5717 (high Aug.20) would bring 1.5739 (high Aug.17) then 1.5745 (high Aug.16) and 1.5750 (high Jul.30).