GBP/USD Clinches Highs Near 1.4190

GBP/USD Clinches Highs Near 1.4190

15 April 2016, 11:24
Roberto Jacobs

GBP/USD Clinches Highs Near 1.4190

The sterling is following the rest of the risk-associated assets on Friday, taking GBP/USD to the area of daily tops near 1.4190.

GBP/USD focus on risk, US releases

Spot seems to have found some support in the 1.4100 neighbourhood this week, coming down from recent peaks in the mid-1.4300s, as the upside momentum in the greenback remains intact.

Price action in GBP has been tracking the broader risk trends, reacting positively to higher-than-expected UK’s CPI and practically ignoring the steady monetary stance from the BoE at its meeting yesterday.

GBP/USD levels to consider

As of writing the pair is up 0.18% at 1.4179 and a breakout of 1.4216 (20-day sma) would open the door to 1.4262 (55-day sma) and finally 1.4346 (high Apr.12). On the other hand, the immediate support aligns at 1.4004 (low Apr.6) ahead of 1.3992 (23.6% Fibo of 1.3833-1.4517) and then 1.3833 (2016 low Feb.29).

(Market News Provided by FXstreet)

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