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GBP/USD accelerates above 1.4300, focus on Carney

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The British pound has recovered the smile after a brief knee-jerk towards the 1.4300 handle, now pushing GBP/USD back to the area of daily highs near 1.4330.

    GBP/USD now looks to Carney

    Latest poll results showing a wider spread favouring the ‘Remain’ vote at the June referendum in the UK have lent extra wigs to GBP, thus lifting spot well above 1.4300 the figure, or multi-day tops.

    In the meantime, alleviated ‘Brexit’ fears and the risk-on sentiment keep sustaining the upside momentum in the pair, while market participants will focus on today’s speech by Governor M.Carney. Across the pond, Housing Starts and Building Permits will grab all the attention.

    GBP/USD levels to consider

    As of writing the pair is up 0.44% at 1.4341 and a breakout of 1.4349 (high Apr.12) would aim for 1.4442 (100-day sma) and finally 1.4517 (high Mar.18). On the other hand, the immediate support aligns at 1.4173 (50% Fibo of 1.3833-1.4517) ahead of 1.4088 (low Apr.14) and then 1.4004 (low Apr.6).
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