12 Feb 2016
GBP/USD pops to 1.4550, daily highs
The sterling is gathering further upside momentum during the European morning, with GBP/USD advancing to session highs in the vicinity of 1.4550.
GBP/USD supported around 1.4450
The pair is gaining over a cent since overnight troughs in the mid-1.4400s, all propped up by a resurgence of the buying interest around GBP and a better tone in the risk-associated space.
In the meantime, market participants seem to have shrugged off the recent downbeat sentiment hurting the sterling, although ‘Brexit’ concerns and the BoE stance regarding a rate hike will continue to linger.
GBP/USD levels to consider
As of writing the pair is advancing 0.54% at 1.4554 and a breakout of 1.4670 (high Feb.4) would aim for 1.4675 (55-day sma) and finally 1.4796 (61.8% Fibo of 1.5240-1.4079). On the flip side, the immediate support lines up at 1.4353 (23.6% Fibo of 1.5240-1.4079) followed by 1.4147 (low Jan.29) and then 1.4079 (low Jan.20).
GBP/USD supported around 1.4450
The pair is gaining over a cent since overnight troughs in the mid-1.4400s, all propped up by a resurgence of the buying interest around GBP and a better tone in the risk-associated space.
In the meantime, market participants seem to have shrugged off the recent downbeat sentiment hurting the sterling, although ‘Brexit’ concerns and the BoE stance regarding a rate hike will continue to linger.
GBP/USD levels to consider
As of writing the pair is advancing 0.54% at 1.4554 and a breakout of 1.4670 (high Feb.4) would aim for 1.4675 (55-day sma) and finally 1.4796 (61.8% Fibo of 1.5240-1.4079). On the flip side, the immediate support lines up at 1.4353 (23.6% Fibo of 1.5240-1.4079) followed by 1.4147 (low Jan.29) and then 1.4079 (low Jan.20).