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29 Jul 2015
GBP/USD hits 4-week highs, nears 1.5700
FXStreet (Córdoba) - GBP/USD extended gains and printed fresh 4-week highs during the New York session with no clear catalysts for the move, as investors await the Federal Reserve monetary policy decision.
GBP/USD broke above previous weeks’ peaks and climbed as high as 1.5689 in recent dealings. At time of writing, the pair is trading at 1.5680, recording a 0.44% gain on the day, with the latest string of US data barely affecting the dollar.
US pending home sales dropped 1.8% in June versus expectations of a 1.0% rise and following a downwardly revised 0.6% reading in May.
The pound is outperforming in a quiet session as investors refrain from taking strong positions ahead of the FOMC statement.
GBP/USD levels to watch
As for technical levels, immediate resistance is seen at 1.5700 (psychological level) and 1.5730 (Jul 1 high). On the other hand, supports could be faced at 1.5587 (Jul 29 low), 1.5525 (Jul 28 low) and 1.5490 (Jul 27 low).
Trade the Fed FOMC meeting with Bednarik and Carrillo - Live Coverage
GBP/USD broke above previous weeks’ peaks and climbed as high as 1.5689 in recent dealings. At time of writing, the pair is trading at 1.5680, recording a 0.44% gain on the day, with the latest string of US data barely affecting the dollar.
US pending home sales dropped 1.8% in June versus expectations of a 1.0% rise and following a downwardly revised 0.6% reading in May.
The pound is outperforming in a quiet session as investors refrain from taking strong positions ahead of the FOMC statement.
GBP/USD levels to watch
As for technical levels, immediate resistance is seen at 1.5700 (psychological level) and 1.5730 (Jul 1 high). On the other hand, supports could be faced at 1.5587 (Jul 29 low), 1.5525 (Jul 28 low) and 1.5490 (Jul 27 low).
Trade the Fed FOMC meeting with Bednarik and Carrillo - Live Coverage