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2 Sep 2015
GBP/USD regains 1.5300 and beyond
FXStreet (Edinburgh) - A sudden bout of buying interest is now pushing GBP/USD back above the 1.5300 handle on Wednesday.
GBP/USD supported near 1.5270
The pair’s daily decline has found decent support around the 1.5270 area today, where a fresh wave of buying orders seems to have just turned up. In the data space, UK’s Construction PMI disappointed investors during August, although the miss in US ADP has removed some tailwinds from the dollar.
Ahead in the session, US Factory Orders and the Fed’s Beige Book are due next, while the next relevant event in the British economy will be tomorrow’s Services PMI tracked by Markit.
GBP/USD levels to watch
As of writing the pair is up 0.04% at 1.5311 with the immediate support at 1.5264 (low Sep.2) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8). On the upside, a breakout of 1.5322 (high Sep.2) would target 1.5409 (high Sep.1) and finally 1.5443 (high Aug.28).
GBP/USD supported near 1.5270
The pair’s daily decline has found decent support around the 1.5270 area today, where a fresh wave of buying orders seems to have just turned up. In the data space, UK’s Construction PMI disappointed investors during August, although the miss in US ADP has removed some tailwinds from the dollar.
Ahead in the session, US Factory Orders and the Fed’s Beige Book are due next, while the next relevant event in the British economy will be tomorrow’s Services PMI tracked by Markit.
GBP/USD levels to watch
As of writing the pair is up 0.04% at 1.5311 with the immediate support at 1.5264 (low Sep.2) followed by 1.5257 (low Jun.10) and then 1.5221 (low Jun.8). On the upside, a breakout of 1.5322 (high Sep.2) would target 1.5409 (high Sep.1) and finally 1.5443 (high Aug.28).