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GBP/USD spikes 1.5480, session tops

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The buying interest around the sterling has woken up on Monday, lifting GBP/USD to fresh daily peaks in the 1.5480 area.

    GBP/USD on its way to 1.55?

    The pound is gathering further traction following the opening bell in London, where the FTSE 100 remains the only major index in red so far. After two consecutive sessions with losses, spot is now recovering ground lost and remains on track to challenge 1.5500 the figure, or 3-week peaks.

    Nothing from the UK docket today, with the next relevant releases out on Thursday via Retail Sales for the month of September. In the US calendar, the NAHB index is only due today followed by Lacker’s speech.

    GBP/USD important levels

    As of writing the pair is advancing 0.17% at 1.5463 with the next resistance at 1.5493 (100-day sma) followed by 1.5513 (high Oct.15) and then 1.5567 (38.2% Fibo of 1.7192-1.4563). On the other hand, a breach of 1.5415 (55-day sma) would aim for 1.5107 (low Oct.1) and finally 1.5089 (low May 5).
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