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GBP/USD regains 1.4300 and above

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The British pound is now picking up pace vs. the greenback, sending GBP/USD to session highs beyond the 1.4300 barrier.

    GBP/USD stronger on Cunliffe comments

    Spot has managed to retake levels above 1.4300 the figure after BoE’s Jon Cunliffe has argued he sees no reason to change his outlook on a rate hike by the central bank.

    The comments have brought in some relief to the sterling, which was trading in lows near 1.4260 area vs. the US dollar.

    Ahead in the day, US Initial Claims and the Philly Fed Survey will take centre stage later in the NA session, while Retail Sales are next on tap in the UK economy tomorrow.

    GBP/USD levels to consider

    As of writing the pair is up 0.14% at 1.4309 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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