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GBP/USD clinches highs beyond 1.4100, UK data eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    A bout of buying interest in the risk-associated space has given extra wings to the sterling, helping GBP/USD to regain the 1.4100 handle and above.

    GBP/USD focus on UK data

    The pair is advancing for the first time after three consecutive sessions with losses in response to a sudden pullback in the greenback. Concerns regarding the likeliness of a ‘Brexit’ scenario seem alleviated today, allowing some respite to the pound.

    Next on tap will be UK’s Industrial/Manufacturing Production followed by Trade Balance figures during February, while the NIESR GDP Estimate is expected later in the European evening.

    GBP/USD levels to consider

    As of writing the pair is up 0.46% at 1.4122 and a breakout of 1.4250 (20-day sma) would open the door to 1.4460 (high Mar.30) and then 1.4517 (high Mar.18). On the other hand, the immediate support aligns at 1.4004 (low Apr.6) ahead of 1.3992 (23.6% Fibo of 1.3833-1.4517) and then 1.3833 (2016 low Feb.29).
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