GBP/USD consolidates above 1.5400

FXStreet (Edinburgh) - The sterling continues to cement the recent break above the 1.5400 handle, taking GBP/USD to the mid-1.5400s.

GBP/USD bolstered by risk

The pair is extending its upbeat momentum on Thursday, following the rest of the risk-associated assets after the dovish tone from the FOMC minutes on Wednesday keeps weighing on the greenback.

There will be no data releases today in the UK economy, shifting all the attention to the US calendar: Initial Claims, CB Leading Indicator and the Philly Fed Manufacturing Survey.

GBP/USD key levels

The pair is now advancing 0.11% at 1.5461 with the next resistance at 1.5486 (low Dec.23) ahead of 1.5500 (psychological level). On the flip side, a breach of 1.5317 (low Feb.17) would aim for 1.5312 (10-d MA) and finally 1.5210 (low Feb.12).

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WTI tanks 3% on oversupply worries

WTI oil futures on the Nymex slumped in overnight trade and remained weak amid expectations of record high oil stockpiles levels reached as per EIA’s report to be published later today.
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