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GBP/USD through 1.4400, daily tops

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 British pound keeps pushing higher on Tuesday, now lifting GBP/USD to fresh peaks beyond the 1.4400 handle.

    GBP/USD extends the rebound from 1.4130

    The pair prolongs its weekly bounce off Monday’s troughs in the 1.4130 area, up nearly three cents following renewed GBP strength on dwindling ‘Brexit’ fears and a persistent softness surrounding the US dollar.

    Data wise in the UK calendar, Governor M.Carney is due to speak later, while UK’s labour market figures are expected tomorrow.

    GBP/USD levels to consider

    As of writing the pair is up 0.91% at 1.4408 and a breakout of 1.4442 (100-day sma) would aim for 1.4460 (high Mar.30) and then 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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