FXstreet.com (Barcelona) - The sterling is grinding lower on Thursday, although keeping the positive territory, despite UK data showed that BBA Mortgage Approvals rose by 28.4K during July, beating expectations and previous print.
GBP and risk associated assets are still on the upside after dovish FOMC minutes have spurred hopes of further easing in yesterday’s release, boosting sentiment and optimism.
The cross is now up 0.07% at 1.5888 with the next resistance at 1.5912 (high Aug.23) ahead of 1.5933 (high May 17) then 1.5997 (high May 16) and 1.6100 (psychological level).
On the downside, a penetration of the psychological level at 1.5800 would expose 1.5765 (low Aug.22) then 1.5706 (low Aug.21) and 1.5678 (low Aug.20).
GBP and risk associated assets are still on the upside after dovish FOMC minutes have spurred hopes of further easing in yesterday’s release, boosting sentiment and optimism.
The cross is now up 0.07% at 1.5888 with the next resistance at 1.5912 (high Aug.23) ahead of 1.5933 (high May 17) then 1.5997 (high May 16) and 1.6100 (psychological level).
On the downside, a penetration of the psychological level at 1.5800 would expose 1.5765 (low Aug.22) then 1.5706 (low Aug.21) and 1.5678 (low Aug.20).
