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)