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GBP/USD in highs near 1.5360

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is now gathering further traction vs. the US dollar, sending GBP/USD to print session tops in the 1.5355/60 band.

    GBP/USD bid after European open

    The pound has found some buying interest following the negative open in the FTSE 100 on Monday, pushing spot to regain the mid-1.5300s, or session highs. The inactivity in the US markets will keep volatility levels subdued, relegating the pair to follow the broader risk appetite trends.

    Ahead in the session, MPC member M.Weale will give a speech followed by the release of the CB Leading Index and BRC’s Retail Sales Monitor, all preceding tomorrow’s more relevant September’s inflation figures.

    GBP/USD important levels

    As of writing the pair is advancing 0.25% at 1.5351 with the next hurdle at 1.5411 (55-day sma) ahead of 1.5443 (Fibo 38.2% of 1.5658-1.5107) and then 1.5500 (100-day sma/psychological level). On the other hand, a breakdown of 1.5128 (up trend from ytd low) would expose 1.5107 (low Oct.1) and then 1.5089 (low May 5).
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