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

    Oct 7, 2015
    Likes Received:
    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).
    For more information, read our latest forex news.

Share This Page

free forex signals