Forex: GBP/USD regains 1.5700

The sterling has managed to recover ground lost overnight and trade back in the proximities of the now key resistance at 1.5700 on Monday, ahead of the UK Halifax House prices. Prior surveys expect the prices to contract 0.2% on a monthly basis and rise 1.5% YoY.

Strategists G.Yu and G.Berry at UBS confirmed the bank’s outlook on the cross, arguing “The sharp sell-off on Friday closed below the strong support at 1.5694. There is scope for more downside to 1.5637 and then 1.5578. Resistance is at 1.5879”.

At the moment, the pair is up 0.08% at 1.5706 with the next resistance at 1.5892 (máx. ene.23) por delante de la media móvil de 200-días en 1.5894.