GBP/USD clinches highs near 1.4540

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The sterling is following the rest of the risk-associated assets today, lifting GBP/USD to post session highs in the vicinity of 1.4540 so far.

    GBP/USD propped up by risk

    A better sentiment towards the risk-on trade has been sustaining the upbeat mood during the Asian trading hours at the beginning of the week, bolstering the pair’s upside momentum, which is looking to consolidate the breakout of the 1.4500 handle.

    Data wise in the UK, February’s Rightmove House Price index has come in at 2.9% on a monthly basis, whereas markets will remain close in the US due to the President’s Day Holiday.

    GBP/USD levels to consider

    As of writing the pair is advancing 0.12% at 1.4526 and a break above 1.4670 (high Feb.4) would aim for 1.4573 (55-day sma) and finally 1.4796 (61.8% Fibo of 1.5240-1.4079). On the flip side, the immediate support lines up at 1.4422 (20-day sma) ahead of 1.4353 (23.6% Fibo of 1.5240-1.4079) and then 1.4147 (low Jan.29).
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