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27 Jan 2014
GBP/USD extends recovery to 1.6585
FXstreet.com (San Francisco) - The Sterling is performing a good day against the US Dollar on Monday with the Cable extending recovery from Friday's low at 1.6475 to trade at 1.6585 today.
"What's driving this latest rally, who knows?" FXBeat's analyst Jamie Coleman says. "Speculation remains high the Bank of England will be the first of the big central banks to officially hike interest rates."
Currently, the GBP/USD is trading at 1.6575, 0.45% positive on the day. The short term perspective is slightly bullish according to the FXstreet's trend index in the 15-minute chart. CCI, MACD and Momentum are pointing to the north while the Stochastic is bearish.
GBP/USD levels
The Sterling to Dollar exchange rate would face resistance at 1.6600 key level, ahead of 1.6635 and 1.6670. On the downside, supports are at 1.6545, 1.6475 and 1.6450.
"What's driving this latest rally, who knows?" FXBeat's analyst Jamie Coleman says. "Speculation remains high the Bank of England will be the first of the big central banks to officially hike interest rates."
Currently, the GBP/USD is trading at 1.6575, 0.45% positive on the day. The short term perspective is slightly bullish according to the FXstreet's trend index in the 15-minute chart. CCI, MACD and Momentum are pointing to the north while the Stochastic is bearish.
GBP/USD levels
The Sterling to Dollar exchange rate would face resistance at 1.6600 key level, ahead of 1.6635 and 1.6670. On the downside, supports are at 1.6545, 1.6475 and 1.6450.