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31 Aug 2015

GBP/USD back above 1.5400

FXStreet (Mumbai) - The GBP bulls recovered a brief dip below 1.54 handle and trades muted in the European afternoon, as the risk-on flows have returned to the markets lending some support to the greenback amid thin-trading as UK markets remain closed on summer bank holiday.

GBP/USD remains exposed to downside risks

The GBP/USD pair trades flat at 1.5406, retreating from 1.5437 highs. The GPB/USD pair defends mild gains and trades muted as the risk aversion seen during Asia seems to have waned with the risk currency in the US dollar recovering lost ground, as traders continue to digest the recent updates from the weekend’s Jackson Hole gathering.

The focus over the weekend was on the Jackson Hole Symposium, with policymakers who spoke at the annual retreat making it clear they wanted to keep their options open, although the rate hike cravings appeared to have died down.

Meanwhile, gains in the cable are expected to remain capped amid lack of fresh fundamental news as the UK is closed for a national holiday.

GBP/USD Levels to consider

The pair has an immediate resistance at 1.5437 (Today’s High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5395 (Today’s Low) below which it could extend losses to 1.5368 (Aug 27 Low) levels.
Aug 31, 2015

Gold keeps losses near $ 1133, Fed rate-hike fears weigh

Gold price on Comex failed to retain gains driven by China stocks sell-off and loses its safe-haven status as a Sept Fed rate lift-off still looms, making investors wary of the non-interest bearing commodity.
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Aug 31, 2015

EUR/USD now stabilizing around 1.1200

The currency now seems to attempt a consolidation pattern around 1.1200 the figure vs. the greenback, with EUR/USD coming down from daily peaks near 1.1260...
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