GBP/USD retreats, unable to break 1.6600

By FXstreet.com | August 27, 2014 AAA

FXStreet (Córdoba) - The GBP/USD failed to hold above 1.6600 and after Wall Street opening bell pulled back, trimming gains. Price peaked at 1.6604, the highest level in a week and afterwards attempted to rally above 1.6600 several times but it was unable.



During the American session retreat and fell to 1.6570. Currently trades at 1.6575, up 0.22% for the day so far.



GBP/USD remains range bound



Despite reachign 1-week highs the pair continues to move sideways between 4-month lows, above 1.6530 and below 1.6600. The main trade is still pointing to the downside, but in the short term price is moving without a clear trend, between the mentioned levels.



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