13 Feb 2015
GBP/USD a tad weaker at 1.5380
FXStreet (Edinburgh) - The sterling is eroding recent gains and dragging GBP/USD back below the 1.5400 handle.
GBP/USD remains buoyant
In spite of the current slight pullback, the pair is on its way to close another week with gains, leaving further behind ytd lows in the mid-1.4900s in late January. A positive growth outlook for the UK economy from the BoE’s Quarterly Inflation Report added further buying interest to the pound on Thursday, already boosted by an environment favourable to the riskier assets.
Next on tap will be the US docket, where Exports/Imports Prices and the Reuters/Michigan index will be in the limelight.
GBP/USD levels to watch
At the moment the pair is down 0.13% at 1.5382 with the immediate support at 1.5300 (psychological support) ahead of 1.5261 (40-d MA) followed by 1.5246 (10-d MA). On the upside, a break above 1.5438 (76.4% of 1.5588-1.4952) would aim for 1.5481 (23.6% of 1.7192-1.4952) and then 1.5500 (psychological level).
GBP/USD remains buoyant
In spite of the current slight pullback, the pair is on its way to close another week with gains, leaving further behind ytd lows in the mid-1.4900s in late January. A positive growth outlook for the UK economy from the BoE’s Quarterly Inflation Report added further buying interest to the pound on Thursday, already boosted by an environment favourable to the riskier assets.
Next on tap will be the US docket, where Exports/Imports Prices and the Reuters/Michigan index will be in the limelight.
GBP/USD levels to watch
At the moment the pair is down 0.13% at 1.5382 with the immediate support at 1.5300 (psychological support) ahead of 1.5261 (40-d MA) followed by 1.5246 (10-d MA). On the upside, a break above 1.5438 (76.4% of 1.5588-1.4952) would aim for 1.5481 (23.6% of 1.7192-1.4952) and then 1.5500 (psychological level).