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15 May 2015
GBP/USD consolidates below 1.5800
FXStreet (Córdoba) - The pound failed to make a strong rally against the US dollar like other currencies did during the American session. GBP/USD reached levels on top of 1.5800 but failed to hold and pulled back.
The retreated from the highs found support at 1.5735 and from there the pair rebounded. It is about to end the week hovering around 1.5750, 300 pips above the level it closed last Friday.
It is the second weekly gain in a row for the pound versus the US dollar, in which it has risen almost 4% boosted by the UK election results and a weak greenback in the market amid expectations of a delay in the Federal Reserve “liftoff”.
Important week ahead
Next week is likely to be another with a busy calendar for the pound: inflation data (Tuesday), Bank of England's minutes (Wednesday) and retail sales report (Thursday). While in the US, the main economic event will be the release of the FOMC minutes on Wednesday.
The retreated from the highs found support at 1.5735 and from there the pair rebounded. It is about to end the week hovering around 1.5750, 300 pips above the level it closed last Friday.
It is the second weekly gain in a row for the pound versus the US dollar, in which it has risen almost 4% boosted by the UK election results and a weak greenback in the market amid expectations of a delay in the Federal Reserve “liftoff”.
Important week ahead
Next week is likely to be another with a busy calendar for the pound: inflation data (Tuesday), Bank of England's minutes (Wednesday) and retail sales report (Thursday). While in the US, the main economic event will be the release of the FOMC minutes on Wednesday.