GBP/USD treading water around 1.4700

The sterling keeps its shine today, with GBP/USD currently in a sideline theme around the 1.4700 handle.

GBP/USD now looks to US docket

Spot is advancing for the third session in a row so far, navigating the 1.4700 neighbourhood after climbing as high as the area of 1.4740 in early trade, or daily highs.

Increasing risk appetite trends, diminishing risks on a ‘Brexit’ scenario and a softer tone in the US dollar have been collaborating with the daily upside, paving the way for a potential test of the 1.4770 area, home of recent highs and the key 200-day sma.

Next on tap will be US Initial Claims, Durable Goods Orders and Pending Home Sales, ahead of the speech by FOMC’s Powell.

GBP/USD levels to consider

As of writing the pair is up 0.05% at 1.4703 facing the next hurdle at 1.4739 (high May 26) ahead of 1.4770 (high May 3) and then 1.4815 (2016 high Jan.4). On the flip side, a breakdown of 1.4521 (20-day sma) would aim for 1.4378 (55-day sma) and finally 1.4330 (low May 16).