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GBP/USD retreats from highs, back near 1.4300

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The upside momentum around the sterling now seems to be taking a breather, with GBP/USD coming down to test the 1.4300 handle.

    GBP/USD attention to risk trends, Carney

    GBP met increasing buying pressure following results from latest polls suggesting the ‘Remain’ vote keeps the lead with 52% ahead of the UK referendum on June 23, boosting the pair to the vicinity of 1.4340, at shouting distance from 2-week tops near 1.4350.

    Spot thus keep the upbeat tone during the first half of the week, up for the second consecutive session amidst a risk-on environment and ahead of Governor Carney’s speech later in the NA session.

    GBP/USD levels to consider

    As of writing the pair is up 0.15% at 1.4299 and a breakout of 1.4349 (high Apr.12) would aim for 1.4442 (100-day sma) and finally 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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