GBP/USD Clinches Highs Post-Data

GBP/USD Clinches Highs Post-Data

8 June 2016, 10:51
Roberto Jacobs
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GBP/USD Clinches Highs Post-Data

The British pound has recovered the smile today, now pushing GBP/USD to fresh tops in the vicinity of 1.4580.

GBP/USD boosted by UK releases

The pair managed to advance to session peaks in the 1.4580 area after UK’s Industrial Production expanded 2.0% MoM in April, while Manufacturing Production rose 2.3% inter-month, both prints coming in above expectations.

Spot is thus posting its second session with gains, reverting the earlier drop to the 1.4500 neighbourhood and ahead of the NIESR GDP Estimate due later in the European evening.

GBP/USD levels to consider

As of writing the pair is up 0.08% at 1.4554 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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