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16 Sep 2015
GBP/USD pushes higher, 1.55 on sight
FXStreet (Edinburgh) - The upside momentum in the sterling remains unabated on Wednesday, now lifting GBP/USD to test the boundaries of 1.5500 the figure.
GBP/USD higher as USD plummets
The bid tone around GBP is growing bigger now, pushing spot to trade at shot distance from the key barrier at 1.55. Quite positive day for the sterling, as positive results in the domestic laour market has combined with market chatter in the M&A sector, giving extra legs to the pair’s rally in early trade.
Later on, poor CPI releases in the US economy plus hawkish comments by Governor M.Carney and MPC members Forbes, McCafferty and Weale have given extra boos to the pound.
GBP/USD levels to watch
As of writing the pair is up 1.01% at 1.5499 and a breakout of 1.5505 (high Aug.27) would open the door to 1.5547 (high Aug.7) and the 1.5617 (high Aug.26). On the other hand, the next support lines up at 1.5330 (low Sep.16) followed by 1.5299 (low Sep.8) ahead of 1.5171 (low Sep.7).
GBP/USD higher as USD plummets
The bid tone around GBP is growing bigger now, pushing spot to trade at shot distance from the key barrier at 1.55. Quite positive day for the sterling, as positive results in the domestic laour market has combined with market chatter in the M&A sector, giving extra legs to the pair’s rally in early trade.
Later on, poor CPI releases in the US economy plus hawkish comments by Governor M.Carney and MPC members Forbes, McCafferty and Weale have given extra boos to the pound.
GBP/USD levels to watch
As of writing the pair is up 1.01% at 1.5499 and a breakout of 1.5505 (high Aug.27) would open the door to 1.5547 (high Aug.7) and the 1.5617 (high Aug.26). On the other hand, the next support lines up at 1.5330 (low Sep.16) followed by 1.5299 (low Sep.8) ahead of 1.5171 (low Sep.7).