1 Dec 2014
GBP/USD advances to 1.5680
FXStreet (Edinburgh) - The sterling is now pushing higher on Monday, lifting GBP/USD beyond 1.5680, or session highs.
GBP/USD buoyed by UK data
The upside moment is growing bigger around GBP after Markit’s manufacturing PMI and Consumer Credit in the UK economy surprised investors to the upside, rising to 53.5 and £1.087 billion during October, respectively. Further UK data showed a decrease in Mortgage Approvals to 59.426K in October and an annual contraction of 2.6% in the M4 Money Supply during the same period.
GBP/USD levels to consider
As of writing the pair is up 0.23% at 1.5674 and a breakout of 1.5826 (high Nov.27) would open the door to 1.5887 (30-d MA) and finally 1.5940 (high Nov.12). On the downside, the initial support lines up at 1.5585 (low Dec.1) ahead of 1.5572 (low Sep.5 2013) and then 1.5555 (low Sep.4).
GBP/USD buoyed by UK data
The upside moment is growing bigger around GBP after Markit’s manufacturing PMI and Consumer Credit in the UK economy surprised investors to the upside, rising to 53.5 and £1.087 billion during October, respectively. Further UK data showed a decrease in Mortgage Approvals to 59.426K in October and an annual contraction of 2.6% in the M4 Money Supply during the same period.
GBP/USD levels to consider
As of writing the pair is up 0.23% at 1.5674 and a breakout of 1.5826 (high Nov.27) would open the door to 1.5887 (30-d MA) and finally 1.5940 (high Nov.12). On the downside, the initial support lines up at 1.5585 (low Dec.1) ahead of 1.5572 (low Sep.5 2013) and then 1.5555 (low Sep.4).