GBP/USD Keeps Highs Around 1.4640

GBP/USD Keeps Highs Around 1.4640

2 May 2016, 13:55
Roberto Jacobs

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).


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