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GBP/USD tests highs near 1.4450

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After dropping to the area of 1.4400 the figure, GBP/USD has managed to regain traction and advance towards session highs near 1.4450.

    GBP/USD now looks to UK’s GDP

    The pair is thus extending its weekly upside, printing multi-day highs and practically recovering last week’s drop, all sustained by the increased offered tone around the dollar.

    Looking to Thursday’s calendar in the UK, Q4 GDP figures will take centre stage, with market consensus expecting the economy to have expanded at an annual pace of 1.9% and 0.5% inter-quarter.

    GBP/USD levels to consider

    As of writing the pair is advancing 0.44% at 1.4449 and a breakout of 1.4517 (high Mar.18) would expose 1.4583 (100-day sma) and finally 1.4670 (monthly high Feb.4). On the other hand, the next support aligns at 1.4278 (55-day sma) followed by 1.4254 (61.8% Fibo of 1.3833-1.4517) and then 1.4051 (low Mar.16).

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