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1 Sep 2015
GBP/USD treading water near 1.5400
FXStreet (Edinburgh) - The sterling is extending into the European session the consolidative pattern seen overnight vs. the dollar, with GBP/USD hovering over the 1.5400 mark so far.
GBP/USD focus on UK data
The recent and sharp pullback in the pair seems to have found decent support around the mid-1.5300s along with some offered tone in the greenback and a pick up in the risk appetite, allowing spot to stab the 1.5400 handle albeit the lack of follow through persists.
Next of relevance will be UK’s final reading of the manufacturing PMI for the last month, M4 Money Supply, Mortgage Approvals and Consumer Credit. Across the Atlantic, Markit’s Manufacturing PMI and the more relevant ISM Manufacturing will be in the limelight.
GBP/USD levels to watch
As of writing the pair is advancing 0.31% at 1.5395 and a break above 1.5443 (high Aug.28) would open the door to 1.5505 (high Aug.27) and finally 1.5717 (high Aug.26). On the flip side, the immediate support aligns at 1.5340 (low Sep.1) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8).
GBP/USD focus on UK data
The recent and sharp pullback in the pair seems to have found decent support around the mid-1.5300s along with some offered tone in the greenback and a pick up in the risk appetite, allowing spot to stab the 1.5400 handle albeit the lack of follow through persists.
Next of relevance will be UK’s final reading of the manufacturing PMI for the last month, M4 Money Supply, Mortgage Approvals and Consumer Credit. Across the Atlantic, Markit’s Manufacturing PMI and the more relevant ISM Manufacturing will be in the limelight.
GBP/USD levels to watch
As of writing the pair is advancing 0.31% at 1.5395 and a break above 1.5443 (high Aug.28) would open the door to 1.5505 (high Aug.27) and finally 1.5717 (high Aug.26). On the flip side, the immediate support aligns at 1.5340 (low Sep.1) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8).