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5 Feb 2015
GBP/USD pushes higher to 1.5340
FXStreet (Edinburgh) - The bid tone around the pound is picking up pace again vs. the dollar, lifting GBP/USD to fresh multi-week tops around 1.5340.
GBP/USD in 5-week peaks
The pair is closing its second consecutive week of gains, advancing more than three big-figures from weekly troughs below 1.5000 the figure to levels last traded in early January. Better sentiment towards the risk appetite, auspicious print from the key Services PMI in the UK economy and a steady stance from the BoE in today’s meeting would be supporting the upside momentum.
The only publication due tomorrow in the British docket will be the Trade Balance figures, preceding the more relevant US Payrolls for the month of January.
GBP/USD levels to consider
As of writing the pair is up 0.24% at 1.5243 with the immediate hurdle at 1.5355 (high Jan.5) ahead of 1.5400 (psychological level) and finally 1.5417 (55-d MA). On the downside, a drop below 1.5200 (psychological level) would open the door to 1.5139 (low Feb.4) and then 1.5132 (21-d MA).
GBP/USD in 5-week peaks
The pair is closing its second consecutive week of gains, advancing more than three big-figures from weekly troughs below 1.5000 the figure to levels last traded in early January. Better sentiment towards the risk appetite, auspicious print from the key Services PMI in the UK economy and a steady stance from the BoE in today’s meeting would be supporting the upside momentum.
The only publication due tomorrow in the British docket will be the Trade Balance figures, preceding the more relevant US Payrolls for the month of January.
GBP/USD levels to consider
As of writing the pair is up 0.24% at 1.5243 with the immediate hurdle at 1.5355 (high Jan.5) ahead of 1.5400 (psychological level) and finally 1.5417 (55-d MA). On the downside, a drop below 1.5200 (psychological level) would open the door to 1.5139 (low Feb.4) and then 1.5132 (21-d MA).