Gbp/usd - 1.5510 ... The British pound retreated strongly to 1.5505 on profit-taking after y'day's rise to 1.5599 as investors are focusing on the release of U.K. GDP data for the 2nd quarter which is expected to show a 1.1% q/q n 1.6% y/y growth. Offers are tipped at 1.5530/35, 1.5560 n further out at 1.5590/95 with stops seen abv 1.5600. On the downside, mixture of bids n stops is located at 1.5500 but demand fm U.K. names is seen at 1.5440/50.
Join the Discussion