12 May 2015
GBP/USD consolidates below 1.5700
FXStreet (Edinburgh) - The sterling remains on the positive footing on Tuesday, with GBP/USD now looking to stabilize in the upper 1.5600s.
GBP/USD boosted by risk, UK data
The solid re-emergence of the risk appetite plus better-than-expected results from the UK’s industrial sector gave the pound extra wings and lifted spot to 5-month peaks just above 1.5700 the figure.
The upbeat sentiment around yields in the UK bond market is has also been collaborating with the upside momentum in GBP, ahead of the NIESR GDP Estimate due later in the European evening.
GBP/USD key levels
As of writing the pair is up 0.62% at 1.5683 with the next resistance at 1.5713 (high May 12) ahead of 1.5753 (high Dec.17) and then 1.5785 (high Dec.16). On the flip side, a break below 1.5557 (low May 12) would open the door to 1.5498 (high Apr.29) and finally 1.5393 (low May 11).
GBP/USD boosted by risk, UK data
The solid re-emergence of the risk appetite plus better-than-expected results from the UK’s industrial sector gave the pound extra wings and lifted spot to 5-month peaks just above 1.5700 the figure.
The upbeat sentiment around yields in the UK bond market is has also been collaborating with the upside momentum in GBP, ahead of the NIESR GDP Estimate due later in the European evening.
GBP/USD key levels
As of writing the pair is up 0.62% at 1.5683 with the next resistance at 1.5713 (high May 12) ahead of 1.5753 (high Dec.17) and then 1.5785 (high Dec.16). On the flip side, a break below 1.5557 (low May 12) would open the door to 1.5498 (high Apr.29) and finally 1.5393 (low May 11).