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GBP/USD keeps pushing higher, near 1.4380

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The sterling has recovered the smile on Thursday, now lifting GBP/USD to fresh highs near 1.4380.

    GBP/USD firmer on risk, EUR/GBP

    Increasing risk appetite continues to rein in global markets during the European afternoon, pushing spot to fresh peaks in the upper-1.4300s. In addition, the offered tone in EUR/GBP via a lower euro is also collaborating with the pair’s upside.

    Previously, GBP has found additional buying interest in response to comments by BoE’s J.Cunliffe, who sees no reasons to change the outlook for the rate hike by the BoE.

    GBP/USD levels to consider

    As of writing the pair is up 0.55% at 1.4368 facing the next hurdle at 1.4399 (20-day sma) followed by 1.4522 (38.2% Fibo of 1.5240-1.4079) and finally 1.4621 (55-day sma). On the other hand, a breach of 1.4200 (psychological level) would aim for 1.4171 (low Jan.26) and then 1.4147 (low Jan.29).
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