GBP/USD Clings to Gains Near 1.4550, UK Data Eyed

GBP/USD Clings to Gains Near 1.4550, UK Data Eyed

8 June 2016, 09:14
Roberto Jacobs
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GBP/USD Clings to Gains Near 1.4550, UK Data Eyed

The sterling has retreated from session highs vs. the greenback, now sending GBP/USD to the 1.4550/45 band.

GBP/USD attention to UK releases

The pair is posting marginal gains so far, advancing for the second consecutive session although below yesterday’s spike to levels above the 1.4600 handle.

Diminishing possibilities of a ‘Brexit’ scenario following recent poll results have been sustaining the up move in GBP as of late, along with a persistent bearish note from the US dollar.

In the data space, UK’s Industrial/Manufacturing Production figures are due later followed by the NIESR GDP Estimate.

GBP/USD levels to consider

As of writing the pair is up 0.02% at 1.4546 and a break above 1.4658 (spike Jun.7) would aim for 1.4723 (200-day sma) and finally 1.4744 (high May 6). On the other hand, the immediate support aligns at 1.4417 (55-day sma) followed by 1.4352 (low Jun.6) and then 1.4330 (low May 16).


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