GBP/USD Clinches Highs Near 1.4630

GBP/USD Clinches Highs Near 1.4630

2 May 2016, 09:40
Roberto Jacobs
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GBP/USD Clinches Highs Near 1.4630

The sterling is now decoupling from the rest of the risk-associated assets on Monday, lifting GBP/USD to daily highs in the 1.4630 area.

GBP/USD eyes on US data, PMI

Spot is advancing for the third session in a row today, looking to regain last Friday’s peaks in the 1.4670 area, while the softer tone around the US dollar continues to be the main source of the up move.

In addition, better-than-expected UK data plus decreasing fears on a ‘Brexit’ scenario have lent extra support to GBP, helping the pair to post its fourth straight week with gains after April’s troughs in the 1.40 neighbourhood.

GBP/USD levels to consider

As of writing the pair is up 0.21% at 1.4634 and a break above 1.4671 (high Apr.29) would open the door to 1.4865 (200-day sma) and finally 1.4948 (high Dec.25). On the flip side, the next support lines up at 1.4392 (100-day sma) ahead of 1.4358 (20-day sma) and then 1.4298 (low Apr.21).


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