GBP/USD firmer, testing highs near 1.5460

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The sterling is picking up pace vs. the dollar on Wednesday, lifting GBP/USD to fresh daily tops in the 1.5455/60 band.

    GBP/USD focus on Carney

    After dropping to the 1.5410 area (55-day ma) in early trade, spot has managed to gather traction and reclaim session highs in the 1.5460 region, ahead of the speech by Governor M.Carney later in the day.

    On the data front, UK’s Public Sector Net Borrowing have come in at £8.63 billion during September, bettering expectations and down from August’s £10.79 billion.

    GBP/USD important levels

    As of writing the pair is advancing 0.09% at 1.5458 with the next resistance at 1.5495 (100-day ma) followed by 1.5513 (high Oct.15) and then 1.5567 (38.2% Fibo of 1.7192-1.4563). On the other hand, a breach of 1.5412 (55-day ma) would aim for 1.5107 (low Oct.1) and then 1.5089 (low May 5).
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