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GBP/USD clinches highs near 1.4190

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The sterling is following the rest of the risk-associated assets on Friday, taking GBP/USD to the area of daily tops near 1.4190.

    GBP/USD focus on risk, US releases

    Spot seems to have found some support in the 1.4100 neighbourhood this week, coming down from recent peaks in the mid-1.4300s, as the upside momentum in the greenback remains intact.

    Price action in GBP has been tracking the broader risk trends, reacting positively to higher-than-expected UK’s CPI and practically ignoring the steady monetary stance from the BoE at its meeting yesterday.

    GBP/USD levels to consider

    As of writing the pair is up 0.18% at 1.4179 and a breakout of 1.4216 (20-day sma) would open the door to 1.4262 (55-day sma) and finally 1.4346 (high Apr.12). 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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