18 Aug 2015
GBP/USD climbs to highs post-UK data
FXStreet (Edinburgh) - The sterling is now gathering traction vs. the US dollar, pushing GBP/USD to session tops near 1.5650.
GBP/USD firmer on UK CPI
The pair saw its upside renewed after UK core consumer prices surprised markets to the upside, rising at an annual pace of 1.2%. In the meantime, headline CPI followed suit, up 0.1% on a year to July from a flat reading forecasted. On a monthly basis, headline prices contracted less than expected 0.2% vs. 0.3% initially estimated.
GBP/USD key levels
At the moment the pair is up 0.35% at 1.5641 with the next resistance at 1.5688 (high Aug.17) ahead of 1.5690 (high Jul.29) and then 1.5734 (high Jul.). On the other hand, a breach of 1.5562 (low Aug.18) would open the door to 1.5536 (low Aug.12) and finally 1.5500 (psychological level).
GBP/USD firmer on UK CPI
The pair saw its upside renewed after UK core consumer prices surprised markets to the upside, rising at an annual pace of 1.2%. In the meantime, headline CPI followed suit, up 0.1% on a year to July from a flat reading forecasted. On a monthly basis, headline prices contracted less than expected 0.2% vs. 0.3% initially estimated.
GBP/USD key levels
At the moment the pair is up 0.35% at 1.5641 with the next resistance at 1.5688 (high Aug.17) ahead of 1.5690 (high Jul.29) and then 1.5734 (high Jul.). On the other hand, a breach of 1.5562 (low Aug.18) would open the door to 1.5536 (low Aug.12) and finally 1.5500 (psychological level).