GBP/USD Market Moving News by AceTrader

GBP/USD – 1.5365.. Although sterling is enjoying a short period of respite in Asia after y’day’s sharp descent to an 8-month low of 1.5187 (NY) n managed a short-covering rebound in tandem with euro to 1.5295 in Asia,

reported offers at 1.5290-1.5300 (n more abv) capped intra-day rise. Similar to euro, current lvl looks attractive to short the sterling as bears are in control as long as price trades below 1.5345 though some profit-taking bids near 1.5230-00 may contain weakness. Look out for UK Q4 GDP at 09:30GMT on any surprise weakness.