5 Aug 2015
GBP/USD trims gains as US dollar recovers
FXStreet (Córdoba) - GBP/USD reversed the intraday trend and turned to the downside during the American session, trimming gains as the US dollar strengthened in the market.
GBP/USD up, then down
After the ADP report, cable rose and printed a fresh weekly high at 1.5650 but then weakened, and turned to the downside following new data from the US. After Wall Street opening bell continued to move lower and dropped back below 1.5600.
Currently it trades at 1.5585/90, up 30 pips from the level it closed yesterday. The pair continues to trade around 1.5600 ahead of key events in the United Kingdom and also ahead of the US official employment report.
On Thursday, the Bank of England will announce its decision on monetary policy and will publish the minutes of the Monetary Policy Committee and the Quarterly Inflation Report.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
GBP/USD up, then down
After the ADP report, cable rose and printed a fresh weekly high at 1.5650 but then weakened, and turned to the downside following new data from the US. After Wall Street opening bell continued to move lower and dropped back below 1.5600.
Currently it trades at 1.5585/90, up 30 pips from the level it closed yesterday. The pair continues to trade around 1.5600 ahead of key events in the United Kingdom and also ahead of the US official employment report.
On Thursday, the Bank of England will announce its decision on monetary policy and will publish the minutes of the Monetary Policy Committee and the Quarterly Inflation Report.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!