GBP/USD recovers ground after US Data

By FXstreet.com | August 26, 2014 AAA

FXStreet (San Francisco) - The Sterling is recovering ground against the US Dollar as the GBP/USD is rising from 1.6565 daily lows to test the 1.6590 area.



It seems the pair got fuel from durable good orders and housing data in the US. Currently, GBP/USD is trading at 1.6592, up 0.08% on the day, having posted a daily high at 1.6597 and low at 1.6566.



GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.



GBP/USD levels



If the pair continues to rise, the next resistance is 1.6595 ahead of 1.6600 and 1.6630. On the downside, supports are at 1.6570, 1.6560 and 1.6530.



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