FXStreet (Córdoba) - The GBP/USD retreated from multi-year highs at 1.7191 but found support above 1.7130. During the last hours it has remained steady hovering around 1.7145, consolidating a daily gain of 60 pips.



Inflation data from the UK pushed the Pound to the upside. The currency was the best performer on Tuesday among majors. On Wednesday important economic data from UK labor market will be published and it is likely to affect the Pound.



GBP/USD rises after 3 days of losses



Despite being unable to hold above 1.7160, the GBP/USD posted the first gain after falling in the the previous three trading days. The pair surged on Tuesday after bottoming at 1.7057, the lowest price since June 30.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Pound Response to PMI Data Likely Limited as BOE Looms Ahead

  2. Investing

    GBP/USD: August 2015 Forecast

  3. Forex News

    Heavy Event Risk in Jobs Data, Rate Decision Will Confront Summer Trading

  4. Forex News

    US Dollar as ‘Data Dependent’ as the Fed as NFPs Approach

  5. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!