9 Jan 2015
GBP/USD hits fresh daily highs
FXStreet (Mumbai) - Cable rallied today, moving away from fresh eighteen-month lows reached in the previous session, as traders continued to cheer robust manufacturing sector performance and neglected an un expected decline in the industrial production figures due to an aberration.
The GBP/USD pair posts fresh intraday high of 1.5155 levels, up 0.43% on the day, having posting day’s low at 1.5084 levels. The cable remains buoyed on UK’s stronger manufacturing output data and on a shrinking trade gap figures. Traders chose to ignore weaker industrial production as the unexpected decline in the numbers were on the back of temporary maintenance work at Huntington oil and gas rigs in the North Sea.
In the day ahead, traders await the crucial US NFP data for fresh leads on the currency pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5170 above which gains could be extended to 1.52 levels. On the flip side, support is seen at 1.5084, below which it could extend losses to 1.5053 levels.
The GBP/USD pair posts fresh intraday high of 1.5155 levels, up 0.43% on the day, having posting day’s low at 1.5084 levels. The cable remains buoyed on UK’s stronger manufacturing output data and on a shrinking trade gap figures. Traders chose to ignore weaker industrial production as the unexpected decline in the numbers were on the back of temporary maintenance work at Huntington oil and gas rigs in the North Sea.
In the day ahead, traders await the crucial US NFP data for fresh leads on the currency pair.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5170 above which gains could be extended to 1.52 levels. On the flip side, support is seen at 1.5084, below which it could extend losses to 1.5053 levels.