FXstreet.com (Barcelona) - The 50-pip rally to 1.5817 high seen on the London opening was retraced by half as the GBP/USD trades around 1.5785 area just after a 15-pip plunge triggered by the loss of the 1.5800 handle.
The greenback is trading stronger since mid-session as housing market data in the US is released soon ahead of the August 1 FOMC minutes. Mortgage applications in the US dropped further, by -7.4%, in the week ending at August 17, after the -4.5% decline in the previous week.
The GBP/USD is tracking much of the Euro sentiment as the market awaits headlines from the Samaras-Juncker meeting.
“Yesterday's break above 1.5780 static resistance clearly shows, that the bullish bias is absolutely intact and I expect a continuation of the uptrend towards 1.5980”, wrote Deltastock.com analyst Stoyan Mihaylov, expecting the current corrective move to be limited above 1.5740.
The greenback is trading stronger since mid-session as housing market data in the US is released soon ahead of the August 1 FOMC minutes. Mortgage applications in the US dropped further, by -7.4%, in the week ending at August 17, after the -4.5% decline in the previous week.
The GBP/USD is tracking much of the Euro sentiment as the market awaits headlines from the Samaras-Juncker meeting.
“Yesterday's break above 1.5780 static resistance clearly shows, that the bullish bias is absolutely intact and I expect a continuation of the uptrend towards 1.5980”, wrote Deltastock.com analyst Stoyan Mihaylov, expecting the current corrective move to be limited above 1.5740.
