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14 May 2015
GBP/USD eyeing 1.5830 and above – Kshitij
FXStreet (Barcelona) - The broad based USD weakness implies that GBP/USD upside might continue towards 1.5830, and breaking above this would target 1.60.
Key Quotes
“Globally major currencies are strong against the US Dollar which fell sharply after the weak Retail sales data that came out yesterday.”
“Dollar Index (93.664) is trading lower and may test 93.25 in the near term. Near term continues to remain bearish.”
“Pound (1.574) is rallying upwards in quick pace. While this rise continues it may move towards 1.5830in the coming sessions before coming off from there. However a break above 1.5830 may take it higher towards 1.60”
Key Quotes
“Globally major currencies are strong against the US Dollar which fell sharply after the weak Retail sales data that came out yesterday.”
“Dollar Index (93.664) is trading lower and may test 93.25 in the near term. Near term continues to remain bearish.”
“Pound (1.574) is rallying upwards in quick pace. While this rise continues it may move towards 1.5830in the coming sessions before coming off from there. However a break above 1.5830 may take it higher towards 1.60”