1.5580 resistance, lasting strengthening of Sterling - The rise in UK retail sales and the US Federal Reserve's decision to hold interest rates make sterling rose on Thursday. The Fed is still open opportunities rate hikes this year, and will likely take place in December, meaning it will not vary much with the Bank of England said it would discuss a rate hike at the turn of the year. Sentiment today may still influenced the results of the Fed's monetary meeting due to the absence of important economic data from both countries.
Strengthening of sterling today are still stuck resistant 1.5580, penetration and ability to hold above that area will bring the price rise towards 1.5650 area. But should be wary weekend profit taking, after GBPUSD rally in the last two days. If the fall to pass through the support 1.5540, sterling could fall further testing 1.5500 area.
