GBP/USD recovers ground after US Data

By FXstreet.com | Updated 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.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: Expect Heavy Seas Between NFPs, ECB and RBA

  2. Forex News

    Trading Video: Expect Volatility for the Dollar, Equities, Euro...Everything

  3. Forex News

    GBP/USD Stalls at Key Juncture - Outlook Hinges on BoE, NFP

  4. Forex News

    GBP/USD: Bears need a break of 20 dma at 1.5333

  5. Forex News

    GBP/USD upside capped at 1.5460

Trading Center