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14 Jan 2015
GBP/USD fading away from the highs
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5220 with a high of 1.5271 and a low of 1.5145 while up 0.37% on the day.
GBP/USD has been performing better on the bid over the course of Wednesday. The pair managed a rally onto the 1.52 handle to reach the highs 71 pips higher for a recent high. The disappointment in the US retails sales underpinned the strength of the pair and with Carney's hawkish rhetoric of late, the markets are pondering more towards a normalisation in interest rates again.
Meanwhile, the Beige book was released from the US of more recent trade, which highlighted concerns over the impact of lower crude oil prices and the current strong level of the USD, while it stressed that the US economy continued to expand in the last part of 2014. Technically, Valeria Bednarik, chief analyst at FXStreet suggested that renewed buying interest above the daily high should see the pair extending its recovery up to 1.5320 price zone, next strong resistance level.
GBP/USD has been performing better on the bid over the course of Wednesday. The pair managed a rally onto the 1.52 handle to reach the highs 71 pips higher for a recent high. The disappointment in the US retails sales underpinned the strength of the pair and with Carney's hawkish rhetoric of late, the markets are pondering more towards a normalisation in interest rates again.
Meanwhile, the Beige book was released from the US of more recent trade, which highlighted concerns over the impact of lower crude oil prices and the current strong level of the USD, while it stressed that the US economy continued to expand in the last part of 2014. Technically, Valeria Bednarik, chief analyst at FXStreet suggested that renewed buying interest above the daily high should see the pair extending its recovery up to 1.5320 price zone, next strong resistance level.