GBP/USD Keeps Highs Around 1.4640
The sterling keeps its buoyant tone on Monday, taking GBP/USD to daily highs in the 1.4635/40 band for the time being.
GBP/USD firmer on USD selling
The
pair is posting gains for the third straight session so far, propped up
by the persistent selling mood around the dollar, exacerbated after the
steady stance from the Fed at its meeting last week.
In the data
space, US ISM Manufacturing and Markit’s PMI will set the tone later
ahead of speeches by Lockhart and Williams. In the UK’s docket, PMI
gauges are all expected ahead in the week: manufacturing (Tuesday),
construction (Wednesday) and services (Thursday).
GBP/USD levels to consider
As
of writing the pair is up 0.25% at 1.4640 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).
