GBP/USD approaches 1.45, UK CPI on sight

The Sterling is trading on a firmer footing on Tuesday, liftingGBP/USD to fresh tops in the vicinity of 1.4500 the figure.

GBP/USD stronger ahead of UK releases

Spot met further buying pressure following latest polls on the UK referendum on June 23, squeezing stops and testing the boundaries of the key barrier at 1.4500. However, GBP will remain under scrutiny as previous gains have been capped around 1.4530/50, where sellers are said to be clustered.

Next on tap will be UK’s inflation figures for the month of April, with bets seeing consumer prices advancing 0.5% on a yearly basis, vs. 0.5% from the previous month.

GBP/USD levels to consider

As of writing the pair is advancing 0.51% at 1.4476 facing the immediate hurdle at 1.4531 (high May 12) followed by 1.4670 (high Feb.4) and then 1.4770 (high May 3). On the other hand, a breakdown of 1.4334 (55-day sma) would aim for 1.4088 (low Apr.14) and finally 1.4004 (low Apr.6).