Intra-day Market Moving News and Views
27 Aug 2015 07:08GMT
GBP/USD - ..... The British pound is nursing loss after yesterday's sharp selloff to as low as 1.5453 near New York closing on dlr's broad-based strength.
Cable staged a short-covering rebound to 1.5509 in Asian morning, however, renewed selling there pressured the pair back down to 1.5483 at European open.
Price showed muted reaction to the release of broadly in-line UK Nationwide house prices and continues to trade under pressure.
Offers are now seen at 1.5510/20 and more above at 1.5530/40 with stops building up above there whilst initial bids are noted at 1.5430/40, suggesting selling on recovery for a resumption of recent downtrend is still favored.
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