Tuesday, September 8, 2015

GBP/USD upside capped by 1.54 so far

FXStreet (Edinburgh) - The upside momentum remains well and sound around the sterling today, with GBP/USD meandering the upper-1.5300s at the moment.

GBP/USD waiting for the BoE

The pair is advancing for the second consecutive session so far, recovering part of the deep pullback seen in the last couple of weeks from multi-month tops above 1.5800 the figure.

Interesting week for the sterling, as UK’s Trade Balance results, Industrial and Manufacturing Production are due tomorrow, followed by the NIESR GDP Estimate and the BoE monetary policy meeting and subsequent minutes due on Thursday.

GBP/USD levels to watch

As of writing the pair is up 0.68% at 1.5375 and a breakout of 1.5406 (high Sep.8) would target 1.5437 (high Aug.31) and finally 1.5505 (high Aug.27). On the other hand, the next hurdle lines up at 1.5270 (low Sep.8) ahead of 1.5150 (low May 6) followed by 1.5089 (low May 5).
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