OctaFX | OctaFX Forex Broker
Open trading account

GBP/USD finds resistance below 1.5740

FXStreet (Córdoba) - Cable rose further above 1.5700 and climbed to the highest price since last Thursday but the resistance area below 1.5740 capped the upside.

GBP/USD testing again 1.5735/40

Last week the pair bottomed at 1.5589 but bounced to the upside, rising to 1.5735; the mentioned level was also tested last Thursday but again offered resistance. The area around 1.5735/40 has become a key short term resistance. If the pair breaks higher it could gain bullish momentum and would be trading at the highest in almost two weeks.

Greenback is consolidating losses against European currencies, but during the last hours, the decline stopped and is now recovering modestly. GBP/USD is about to post the second daily gain in row but the short term perspective remains sideways with price moving within a range with support around 1.5590 - 1.5600 and 1.5740.

United States 5-Year Note Auction: 1.595% vs 1.567%

Read more Previous

AUD/USD bears lining up and lick lips

AUD/USD is trading at 0.8531, down -0.95% on the day, having posted a daily high at 0.8621 and low at 0.8514.
Read more Next
Start livechat