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21 Apr 2016
GBP/USD tests 1.4440, daily highs
The Sterling has now picked up further upside momentum, lifting GBP/USD to fresh daily tops near 1.4440.
GBP/USD stronger on US selling
Spot has seen its upside renewed in response to a persistent sell-off in the US dollar, challenging the critical 94.00 support when tracked by the US Dollar Index (DXY), clinching at the same time 3-week tops around the 1.4440 region.
The pair has quickly left behind the miserable prints from UK’s retail sales for the month of March, which prompted an ephemeral test of session lows in the 1.4300 neighbourhood.
GBP/USD levels to consider
As of writing the pair is advancing 0.60% at 1.4419 facing the next hurdle at 1.4460 (high Mar.30) ahead of 1.4517 (high Mar.18) and finally 1.4670 (monthly high Feb.4). On the flip side, a breakdown of 1.4249 (55-day sma) would open the door to 1.4092 (38.2% Fibo of 1.3833-1.4517) and then 1.4004 (low Apr.6).
GBP/USD stronger on US selling
Spot has seen its upside renewed in response to a persistent sell-off in the US dollar, challenging the critical 94.00 support when tracked by the US Dollar Index (DXY), clinching at the same time 3-week tops around the 1.4440 region.
The pair has quickly left behind the miserable prints from UK’s retail sales for the month of March, which prompted an ephemeral test of session lows in the 1.4300 neighbourhood.
GBP/USD levels to consider
As of writing the pair is advancing 0.60% at 1.4419 facing the next hurdle at 1.4460 (high Mar.30) ahead of 1.4517 (high Mar.18) and finally 1.4670 (monthly high Feb.4). On the flip side, a breakdown of 1.4249 (55-day sma) would open the door to 1.4092 (38.2% Fibo of 1.3833-1.4517) and then 1.4004 (low Apr.6).