The GBP/USD spot is trading around 1.5424 (Aug 7 low) amid low volumes on account of the bank holiday in London.
USD resilient to weak equities
The US dollar has managed to keep losses under check even though major European indices are trading in the red. The risk aversion in Asian equities has been carried forward by Europe. Germany’s DAX is down more than 11% and the pan-European Stoxx 600 fell 0.40%.
However, the drop has not affected the treasury yields significantly. The 2-yr yield, which mimics rate hike expectations, stays resilient around 0.731%. Moreover, bets on a September Fed liftoff climbed after Vice Chairman Stanley Fischer said there is “good reason” to believe inflation will accelerate.
GBP/USD Technical Levels
The spot currently trades around 1.5425. The immediate resistance is located 1.5450 (23.6% of last week’s drop) followed by a hurdle at 1.5482 (100-DMA). On the flip side, support is seen at 1.54 (daily low) and 1.5335 (Friday’s low).
USD resilient to weak equities
The US dollar has managed to keep losses under check even though major European indices are trading in the red. The risk aversion in Asian equities has been carried forward by Europe. Germany’s DAX is down more than 11% and the pan-European Stoxx 600 fell 0.40%.
However, the drop has not affected the treasury yields significantly. The 2-yr yield, which mimics rate hike expectations, stays resilient around 0.731%. Moreover, bets on a September Fed liftoff climbed after Vice Chairman Stanley Fischer said there is “good reason” to believe inflation will accelerate.
GBP/USD Technical Levels
The spot currently trades around 1.5425. The immediate resistance is located 1.5450 (23.6% of last week’s drop) followed by a hurdle at 1.5482 (100-DMA). On the flip side, support is seen at 1.54 (daily low) and 1.5335 (Friday’s low).
| News provided by: Fxstreet |
No comments:
Post a Comment