GBP/USD in Fresh Tops Around 1.4520
The sterling is advancing further at the beginning of the week, with GBP/USD now posting fresh peaks above the 1.4500 mark.
GBP/USD stronger as USD slumps
The
pair has quickly taken out March’s high and has now opened the door for
a test of the 1.4670 area, February’s peaks, as the selling mood around
the greenback continues to grow bigger.
Data wise in the UK,
CB’s Industrial Trends Orders have come in at -11 during the current
month vs -15 forecasted and up from March’s -14. In the US docket, New
Home Sales are only expected later.
GBP/USD levels to consider
As
of writing the pair is advancing 0.59% at 1.4489 and a breakout of
1.4520 (high Apr.25) would aim for 1.4670 (high Feb.4) and finally
1.4815 (2016 high Jan.4). On the flip side, the immediate support is
located at 1.4271 (20-day sma) ahead of 1.4248 (55-day sma) and then
1.4004 (low Apr.6).
