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GBP/USD Pushes At The 1.5700 Door Aug 16 at 12:43 GMT
ForexSpace.com (LONDON) – After a flirting with a 45-pip spike, GBP/USD has retreated from its session high of 1.5715 during early European trading. The uptick occurred as a direct consequence of today’s unexpectedly promising UK retail data. Having sniffed the 1.5700 level, cable is within striking distance, trading at 1.5692 at the time of writing.
Support was established at about 1.5655 before the market took it out heading into today’s European session. It since rebounded from 1.5635 as the session progressed. A clearer break of this week’s range will be required in order to introduce some directional clues. In the interim, analysts believe we have a larger consolidation pattern at hand as well.
Drew Hillier. Editor, ForexSpace.com
Article by: Drew Hillier
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Overview
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 USD/JPY
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101.3250 | 0.0050 | 0.00% |
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 EUR/USD
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1.2932 | 0.0000 | 0.00% |
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 GBP/USD
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1.5123 | 0.0001 | 0.00% |
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Gold (USD/oz)
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1,386.6900 | 0.0000 | 0.00% |
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Silver (USD/oz)
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22.4025 | 0.0000 | 0.00% |
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Majors
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USD/CHF
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0.9615 | 0.0000 | 0.00% |
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EUR/GBP
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0.8553 | 0.0001 | 0.01% |
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 AUD/USD
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0.9651 | 0.0000 | 0.00% |
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USD/CAD
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1.0320 | 0.0000 | 0.00% |
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EUR/CHF
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1.2433 | 0.0000 | 0.00% |
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Others
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 GBP/ZAR
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14.4812 | 0.0001 | 0.00% |
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 INR/USD
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0.0179 | 0.0000 | 0.00% |
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 TWD/USD
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0.0334 | -0.0001 | -0.15% |
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 NZD/USD
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0.8095 | 0.0000 | 0.00% |
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 HKD/USD
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0.1288 | 0.0000 | 0.00% |
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