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GBP/USD shoots to highs near 1.5150

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The sterling is gather further traction on Tuesday, now lifting GBP/USD to fresh daily highs near 1.5150.

    GBP/USD stronger on USD-selling

    A bout of selling interest is now hitting the greenback, allowing the pair to pick up further pace and test 2-day peaks in the mid-1.5100s and extend the bounce off post-NFP lows in the 1.5025/20 band (Friday).

    Data wise, US Exports/Imports Prices and Wholesale Inventories are due later in the session, while UK’s labour market figures will take centre stage on Wednesday.

    GBP/USD levels to watch

    At the moment, the pair is advancing 0.11% at 1.5131 facing the next resistance at 1.5204 (38.2% of 1.5496-1.5023) followed by 1.5233 (7-month uptrend prev. support now resistance) and then 1.5319 (55-day sma). On the other hand, a break below 1.5023 (low Nov.6) would aim for 1.4948 (low Jan.23) and finally 1.4563 (2015 low Apr.13).
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