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11 Aug 2014

GBP/USD extends daily highs around 1.6795

FXStreet (San Francisco) - The slow and heavy Sterling's recovery versus the US Dollar found resistance at 1.6790 earlier in the European session with the pair being rejected to 1.6775. However the GBP/USD is resuming its advance and now it is trading at new daily highs around 1.6795.

Currently, GBP/USD is trading at 1.6793, up 0.12% on the day, having posted a daily high at 1.6795 and low at 1.6770. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.

GBP/USD levels

If the pair extends gains above current levels, it would face next resistances at 1.6800, 1.6820 and 1.6850. On the downside, supports are at 1.6775 and 1.6765.

Aug 11, 2014

Chinese demand for gold still subdued – UBS

Strategists at UBS assessed the demand for the yellow metal in the Chinese economy...

Shorter-term currency outlook less certain due to geopolitical issues - J.P. Morgan

Patrick Burton from J.P. Morgan signals that due to the recent intensifications of geopolitical tensiosn the short-term outlook for currencies has become less certain.