Wednesday, September 16, 2015

GBP/USD tests highs on UK releases

FXStreet (Edinburgh) - The pound is picking up pace vs. the US dollar on Thursday, now pushing GBP/USD to the upper bound of the range near 1.5390.

GBP/USD firmer post-UK jobs

The pair has seen its upside accelerated after UK’s labour market figures have surprised investors to the upside during the last month. In fact, the Claimant Count Change has increased by 1.2K vs. a forecasted drop of 5K, while the jobless rate has ticked lower 5.5% in the three months ended in July. Further data showed Average Earnings plus/minus Bonus expanding at a healthy 2.9% during July.

Ahead in the session, US inflation figures will be in the limelight, with consensus pointing to headline princes rising at 0.2% on a year to August and prices excluding food and energy costs advancing 1.9% during the same period.

GBP/USD levels to watch

As of writing the pair is up 0.26% at 1.5384 a breakout of 1.5473 (high Sep.14) would open the door to 1.5505 (high Aug.27) and then 1.5547 (high Aug.7). 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).
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