Sterling continue up-trend against USD
Sterling Pound against US Dollar is now in an up-trend after bottoming at 1.4425. How long will it continue? Let us look at the latest currency graph for GBP/USD.
Current intraday support levels are at 1.5589 and 1.5710, while weekly resistance levels are at 1.6460 and 1.70. It’s no secret that many analysts expect Sterling to rise against the dollar. If the US economy continue to show poor statistics, we believe GBP will rise sooner rather then later.
What do you think about the latest strength for GBP? Will it continue or break down?
GBP/USD on Tuesday the pound erase early losses against the U.S. dollar, recovering from a fall three days earlier at a policy meeting of the U.S. Federal Reserve, the pound has recovered from 1.6438 its lowest level since April 21 to 1.6524 which was its maximum in the morning section of Europe recovering 0.16%.
The GBP may find support at 1.6384 which was lower on Wednesday, April 21 and may find resistance at 1.6597 while the behavior of recovery of the pound giving positive number elsewhere in the EUR/GBP Pound fell against the euro along the 0.03% to 0.8841 in the morning hours after the European Confederation of British Industry published a report on the expectations of industrial order, followed in the Bank of England responsible for setting Andrew Sentence interest rates in the United Kingdom member of the Monetary Policy Committee Bank of England speak.