GBP/USD picks up pace, 1.44 closer

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The sterling has now accelerated its upside momentum, taking GBP/USD to the vicinity of the critical barrier at 1.4400 the figure.

    GBP/USD stronger ahead of Carney

    Spot is trading at shouting distance from the 1.4400 handle after another poor results from the US calendar, where both Building Permits and Housing Starts have disappointed initial forecasts during the month of March.

    GBP keeps its buoyancy today, lifting the pair for the second straight session ahead of the speech by BoE M.Carney and tomorrow’s key UK labour market figures

    GBP/USD levels to consider

    As of writing the pair is up 0.76% at 1.4386 and a breakout of 1.4442 (100-day sma) would aim for 1.4460 (high Mar.30) and then 1.4517 (high Mar.18). On the other hand, the immediate support aligns at 1.4173 (50% Fibo of 1.3833-1.4517) ahead of 1.4088 (low Apr.14) and then 1.4004 (low Apr.6).
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