GBP/USD Clinches Highs Near 1.4470

GBP/USD Clinches Highs Near 1.4470

9 May 2016, 11:55
Roberto Jacobs
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GBP/USD Clinches Highs Near 1.4470

After a brief adventure to lows in sub-1.4400 levels, GBP/USD has gathered further traction and is now testing daily highs in the 1.4465/70 band.

GBP/USD supported by 1.4370

Spot is reverting four consecutive pullbacks at the beginning of the week, regaining the 1.4400 handle and beyond after finding support around the 100-day sma near 1.4370 in early trade.

In the meantime, GBP will remain under pressure following latest poll results signalling a tighter gap between the ‘Stay’ and the ‘Leave’ vote in the UK referendum on June 23.

GBP/USD levels to consider

As of writing the pair is advancing 0.20% at 1.4459 facing the next hurdle at 1.4770 (high May 3) ahead of 1.4815 (2016 high Jan.4) and finally 1.4836 (200-day sma). On the other hand, a breach of 1.4375 (low May 9) would expose 1.4298 (low Apr.21) and then 1.4283 (55-day sma).


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