GBP/USD Clinches Highs Beyond 1.4100, UK Data Eyed
A bout of buying interest in the risk-associated space has given extra wings to the sterling, helping GBP/USD to regain the 1.4100 handle and above.
GBP/USD focus on UK data
The
pair is advancing for the first time after three consecutive sessions
with losses in response to a sudden pullback in the greenback. Concerns
regarding the likeliness of a ‘Brexit’ scenario seem alleviated today,
allowing some respite to the pound.
Next on tap will be UK’s
Industrial/Manufacturing Production followed by Trade Balance figures
during February, while the NIESR GDP Estimate is expected later in the
European evening.
GBP/USD levels to consider
As
of writing the pair is up 0.46% at 1.4122 and a breakout of 1.4250
(20-day sma) would open the door to 1.4460 (high Mar.30) and then 1.4517
(high Mar.18). On the other hand, the immediate support aligns at
1.4004 (low Apr.6) ahead of 1.3992 (23.6% Fibo of 1.3833-1.4517) and
then 1.3833 (2016 low Feb.29).
(Market News Provided by FXstreet)
