The pound accelerates its gains vs. the US dollar on Tuesday, with GBP/USD gyrating around 1.5220.
GBP/USD advances on UK data
The pair managed to pick up pace from the 1.5220 area following the mixed results in the UK economy. British Industrial and Manufacturing Production showed opposite results, expanding at an annual pace of 0.5% and 2.4% vs. estimates at 0.7% and 2.0%, respectively.
Next of relevance in the UK docket will be the GDP Estimate by NIESR due later, followed by the more significant Quarterly Inflation Report by the BoE on Thursday.
GBP/USD significant levels
At the moment the pair is up 0.05% at 1.5223 with the next up barrier at 1.5282 (40-d MA) followed by 1.5353 (high Feb.6) and then 1.5355 (high Jan.5). On the other hand, a breach of 1.5170 (low Feb.5) would aim for 1.5162 (200-h MA) and finally 1.5149 (21-d MA).
GBP/USD advances on UK data
The pair managed to pick up pace from the 1.5220 area following the mixed results in the UK economy. British Industrial and Manufacturing Production showed opposite results, expanding at an annual pace of 0.5% and 2.4% vs. estimates at 0.7% and 2.0%, respectively.
Next of relevance in the UK docket will be the GDP Estimate by NIESR due later, followed by the more significant Quarterly Inflation Report by the BoE on Thursday.
GBP/USD significant levels
At the moment the pair is up 0.05% at 1.5223 with the next up barrier at 1.5282 (40-d MA) followed by 1.5353 (high Feb.6) and then 1.5355 (high Jan.5). On the other hand, a breach of 1.5170 (low Feb.5) would aim for 1.5162 (200-h MA) and finally 1.5149 (21-d MA).
