Forex: GBP/USD posts weekly high at 1.5888
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GBP/USD
FXstreet.com (Barcelona) - GBPUSD has posted a weekly high at 1.5888 and is hovering below 1.5900 as USD weakens during the countdown to Bernanke's speech at the Jackson Hole Symposium.
Having moved over a point from its morning low at 1.5777, the pair has risen in almost one way traffic throughout the European session. Reports surrounding the future of the Bundesbank's Weidmann circulated causing some risk on sentiment across already thin markets. With today's focus falling squaring on Bernanke's speech at the Jackson Hole Symposium, GBPUSD is currently trading at 1.5874 and looking for support at the previous weekly high at the same level. Forex Ticket see the next upside levels of resistance at 1.5914 and 1.5954.
European Equities are up with The DAX up 1.36% and US futures indicating a higher open. Commodities are also higher and Spanish and Italian 10 year bond yields stand are 1.39% and almost flat respectively.
Having moved over a point from its morning low at 1.5777, the pair has risen in almost one way traffic throughout the European session. Reports surrounding the future of the Bundesbank's Weidmann circulated causing some risk on sentiment across already thin markets. With today's focus falling squaring on Bernanke's speech at the Jackson Hole Symposium, GBPUSD is currently trading at 1.5874 and looking for support at the previous weekly high at the same level. Forex Ticket see the next upside levels of resistance at 1.5914 and 1.5954.
European Equities are up with The DAX up 1.36% and US futures indicating a higher open. Commodities are also higher and Spanish and Italian 10 year bond yields stand are 1.39% and almost flat respectively.
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