20 Nov 2014
GBP/USD challenges highs around 1.5680
FXStreet (Edinburgh) - The sterling is now trading on a better tone, lifting GBP/USD to the area of session tops beyond 1.5680.
GBP/USD firmer post-data
The pair found support in the better figures from the UK Retail Sales, surpassing estimates and expanding 0.8% inter-month and 4.3% over the last twelve months. Sales excluding the Fuel component followed suit, up 0.8% on a monthly basis and 4.6% YoY. Next of relevance for the pair will be the US docket, with the main focus on the CPI and the manufacturing PMI tracked by Markit.
GBP/USD relevant levels
At the moment the pair is up 0.01% at 1.5676 and a break above 1.5720 (high Nov.19) would open the door to 1.5737 (high Nov.17) and finally 1.5741 (10-d MA). On the flip side, the initial support lines up at 1.5600 (psychological level) ahead of 1.5590 (low Nov.19) and then 1.5564 (low Sep.6 2013).
GBP/USD firmer post-data
The pair found support in the better figures from the UK Retail Sales, surpassing estimates and expanding 0.8% inter-month and 4.3% over the last twelve months. Sales excluding the Fuel component followed suit, up 0.8% on a monthly basis and 4.6% YoY. Next of relevance for the pair will be the US docket, with the main focus on the CPI and the manufacturing PMI tracked by Markit.
GBP/USD relevant levels
At the moment the pair is up 0.01% at 1.5676 and a break above 1.5720 (high Nov.19) would open the door to 1.5737 (high Nov.17) and finally 1.5741 (10-d MA). On the flip side, the initial support lines up at 1.5600 (psychological level) ahead of 1.5590 (low Nov.19) and then 1.5564 (low Sep.6 2013).