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.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD sitting pretty despite lower CPI’s
    Forex News

    GBP/USD sitting pretty despite lower CPI’s

  2. GBP/USD technical are mixed - Scotiabank
    Forex News

    GBP/USD technical are mixed - Scotiabank

  3. Still solid GDP growth - BNP
    Forex News

    Still solid GDP growth - BNP

  4. GBP/USD extends gains, nears 1.6100
    Forex News

    GBP/USD extends gains, nears 1.6100

  5. USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles
    Forex News

    USDOLLAR Breaks October Downtrend, GBP’s GDP Rally Fizzles

Trading Center