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GBP/USD bounces from lows

FXstreet.com (Barcelona) – GBP/USD had spiked up to print a high so far of 1.5632 after the release of UK data this morning but this has been short lived.

GBP/USD has dumped through the big figure into 1.5539 the low. Currently it has recovered to 1.5560 on US data this afternoon in New Home Sales. Some analysts had expected new home sales to fall by just 2.8% M/M in July (mkt -2.0%), giving back some of the big 8.3% increase from the month before. The numbers came in 0.394M vs 0.485M consensus and the change was -13.4% which now …read more