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15 Apr 2015
GBP/USD back to square one
FXStreet (Córdoba) - GBP/USD entered a consolidation phase near daily highs after briefly rising above 1.4800 as the greenback weakened on the back of disappointing US industrial production data.
Cable peaked at a 6-day high of 1.4812 but lacked momentum to extend the advance and settled just below the psychological mark over the last hours. At time of writing, the pair was trading at 1.4775, virtually unchanged on the day.
GBP/USD has been on recovery mode during the last sessions after striking a 5-year low of 1.4569 earlier this week. However, the pound is having a hard time trying to consolidate above 1.4800.
Cable peaked at a 6-day high of 1.4812 but lacked momentum to extend the advance and settled just below the psychological mark over the last hours. At time of writing, the pair was trading at 1.4775, virtually unchanged on the day.
GBP/USD has been on recovery mode during the last sessions after striking a 5-year low of 1.4569 earlier this week. However, the pound is having a hard time trying to consolidate above 1.4800.