GBP/USD printing highs around 1.4760

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The buying interest around the sterling remains well and sound during the European morning today, with GBP/USD flirting with session highs in the 1.4760 area.

    GBP/USD stronger ahead of UK data

    The pound has managed to bounce off fresh multi-week lows near 1.4690 during overnight trade, quickly regaining the 1.4700 handle and advancing to the current area of daily highs around 1.4760.

    GBP will remain under pressure in light of the upcoming manufacturing PMI in the UK economy for the month of December, seconded by November’s Consumer Credit, Mortgage Approvals and Net Lending to Individuals.

    GBP/USD important levels

    The pair is now advancing 0.16% at 1.4758 with the next up barrier at 1.4947 (high Dec.24) ahead of 1.5000 (psychological level) and finally 1.5102 (55-day sma). On the downside, a breach of 1.4632 (low Mar.18) would open the door to 1.4563 (low Apr.13) and then 1.4500 (psychological level).
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