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6 Aug 2013
GBP/USD eyes 1.5400 on better UK data
FXstreet.com (Edinburgh) -The sterling continues to push higher on Tuesday, pushing the GBP/USD to the boundaries of 1.5400 the figure after UK manufacturing data surprised investors.
GBP/USD extends the upside
The UK economy continues to see ‘green shots’ and confirming the incipient recovery in the economy. After the recent improvement in the key Services PMI, the manufacturing and industrial production exceeded the median in June, advancing at an annual rate of 2.0% and 1.2%, respectively, leaving behind May’s contraction. Ahead in the day the NIESR GDP Estimate for the three months ended in July will be in the limelight, ahead of tomorrow’s BoE Quarterly Inflation Report.
GBP/USD key levels
At the moment the pair is up 0.14% at 1.5378 and a surpass of 1.5380 (high Aug.5) would open the door to 1.5416 (high Jul.26) and finally 1.5435 (high Jul.25). On the flip side, support levels align at 1.5332 (low Aug.6) ahead of 1.5299 (MA10d) and then 1.5259 (low Aug.5).
GBP/USD extends the upside
The UK economy continues to see ‘green shots’ and confirming the incipient recovery in the economy. After the recent improvement in the key Services PMI, the manufacturing and industrial production exceeded the median in June, advancing at an annual rate of 2.0% and 1.2%, respectively, leaving behind May’s contraction. Ahead in the day the NIESR GDP Estimate for the three months ended in July will be in the limelight, ahead of tomorrow’s BoE Quarterly Inflation Report.
GBP/USD key levels
At the moment the pair is up 0.14% at 1.5378 and a surpass of 1.5380 (high Aug.5) would open the door to 1.5416 (high Jul.26) and finally 1.5435 (high Jul.25). On the flip side, support levels align at 1.5332 (low Aug.6) ahead of 1.5299 (MA10d) and then 1.5259 (low Aug.5).