GBP/USD in Fresh Tops Around 1.4520

GBP/USD in Fresh Tops Around 1.4520

25 April 2016, 14:55
Roberto Jacobs
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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).


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