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31 Aug 2015

GBP/USD: Bulls regain control, back near 1.5420

FXStreet (Mumbai) - The British currency is seen picking up pace gradually versus it’s American peer in the European afternoon, as markets moved past the initial risk-off tone and now await fresh updates from the upcoming US session.

GBP/USD bounced-off 1.5395

The GBP/USD pair trades 0.10% higher at 1.5415, heading for a retest of 1.5437 session highs. The GPB/USD pair keep pushing higher, bouncing-off a brief dip to lows below 1.54 handle as a fresh bid wave seems to have caught the British pound amid lack of fresh fundamentals from the GBP calendar as the UK markets remain closed on summer bank holiday.

Moreover, the US dollar remains undermined as falling global equities continue to weigh on the risk sentiment, thereby driving GBP/USD higher.

Meanwhile, markets now await US Chicago PMI data due to be released later in the New York session, which will kick-off a data-heavy US calendar for the week ahead.

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

Panic is over, back to normalcy? – BBH

Analysts at BBH have assessed the prospects in the global markets in the near term...
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Aug 31, 2015

USD/CAD: The calm before another storm - TDS

Analysts at T D Securities argue that there is little going on the US and Canadian economic calendars to drive USDCAD today, although highlighting that last week the spot looked overvalued relative to the fair value model (which currently stands at 1.2990).
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