GBP/USD trading near 1.5600

FXstreet.com (Buenos Aires) – Dollar crashed across the board, as US stocks fell to fresh lows. With not much behind the movement but further dollar liquidation, the GBP/USD soared to a fresh 4-monht high of 1.5620, retracing some at the time being, but holding to the overall bullish tone seen since the week started. The dollar slide is being again lead by Yen strength, that quotes around 97.60 against the greenback, having lost over 200 pips in the past couple of hours.


As for the GBP/USD, the pair maintains a bullish tone, and a daily close above 1.5600, will anticipate further advances, according to Valeria Bednarik, FXstreet.com chief analyst. She forecasts that, in the case of steady gains above the level, the Pound could extend its recovery “up to 1.5700 in the upcoming days, regardless US employment readings tomorrow.” In the shorter term, she expects “buyers to surge on retracements towards 1.5520, now key support.”