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      GBP/USD at fresh session highs

      FXStreet (Mumbai) - The GBP/USD pair clocked a fresh high of 1.5610 levels in early Europe as the USD continues to find fresh offers after dovish Fed and amid weak European stocks.

      Struggles near 1.56

      Despite the weakness in the USD, the spot is having a tough time extending gains over and above 1.56 handle. Moreover, the speculation of the BOE rate hike delay could catch fire since the dovish tilt from the Fed has not been well received by the markets.

      With no major European or US data due, the Cable remains at the mercy of the overall market sentiment reflected by the movement in the stocks, gold and Treasury yields.

      GBP/USD Technical Levels

      The immediate resistance is located at 1.5605, above which the spot could test 1.5690 (July 29 high). On the other side, support is seen at 1.5557 (daily low) and 1.5522 (50-DMA).

      USD/CAD puts 1.3100 to the test

      The greenback has left the overnight consolidative pattern around 1.3180 vs. its Canadian peer, sending USD/CAD to test recent lows in sub-1.3100 levels...
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      European stocks hit by Fed’s verdict, dive deep in the red

      Stocks in Europe reacted negatively to the recent Fed decision and fell deep in the red on Friday, as Fed’s worries about recent global economic and financial developments, as voiced in the FOMC statement, hamper investors’ sentiment.
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