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GBP/USD fades the spike to 1.5550

FXStreet (Edinburgh) - The buying interest remains unchanged around the pound on Thursday, lifting GBP/USD to daily tops in the mid-1.5500s albeit losing impetus afterwards.

GBP/USD firmer ahead of FOMC

Spot has extended its consolidative pattern around 1.5500 the figure seen overnight into the European session today, although it has managed to break above it amidst a better tone in the risk appetite trends.

In the data space, UK Retail Sales have disappointed market expectations during the last month, although traders have quickly shrugged off the poor results, leaving the buying interest pretty much intact around the pair.

GBP/USD significant levels

As of writing the pair is advancing 0.24% at 1.5530 with the next hurdle at 1.5549 (high Sep.17) followed by 1.5606 (high Aug.10) and finally 1.5660 (high Aug.12). On the other hand, a breakdown of 1.5486 (low Sep.17) would aim for 1.5373 (low Sep.14) and then 1.5330 (low Sep.16).

NZD/USD recovery capped at 0.6380, back to square one

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Research Team at BAML, suggest that the political landscape in Brazil remains complex and a political solution is needed to improve the economic prospects. In addition, Brazilian markets are trading risk premium more than fundamentals, creating opportunities for those who can withstand volatility.
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