Intra-day Market Moving News and Views
26 Aug 2015 06:00GMT
GBP/USD -...... The British pound gained some respite after yesterday's selloff from 1.5820 to 1.5694 in NY afternoon and edged up to 1.5720 in Asian morning today.
However, renewed selling interest there pressured the pair back down to 1.5686 in early European morning and continues to remain under pressure.
Since there is no important eco. data due from UK today, price is likely to track euro's intra-day movements closely. Having said that one should keep a keen eye on the eur/gbp cross.
Offers are now seen at 1.5690/00 and more above at 1.5720/30 with stops building up above there whilst initial bids are noted at 1.5650/60, suggesting choppy trading is envisaged.
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