30 Jan 2015
GBP/USD inching higher, 1.51 on sight
FXStreet (Edinburgh) - The sterling is following the rest of the risk-associated assets at the end of the week, with GBP/USD heading towards the 1.5100 barrier.
GBP/USD focus on UK data
The pair remains in the middle of the weekly range between 1.5200 and 1.5000 so far, ahead of important releases due later in the UK economy. Market consensus expects the M4 Money Supply to have expanded 0.5% inter-month during December, while Mortgage Approvals, Consumer Credit and Net Lending to Individuals all would come below estimates.
Across the ocean, the flash print of the US GDP Annualized will take centre stage, with estimates pointing to a 3.3% expansion during Q4.
GBP/USD key levels
At the moment the pair is up 0.09% at 1.5080 a breakout of 1.5223 (high Jan.27) would aim for 1.5096 (10-d MA) ahead of 1.5165 (high Jan.29) and then 1.5235 (high Jan.16). On the downside, the initial support aligns at 15018 (low Jan.29) followed by 1.4972 (low Jan.26) and then 1.4952 (low Jan.23).
GBP/USD focus on UK data
The pair remains in the middle of the weekly range between 1.5200 and 1.5000 so far, ahead of important releases due later in the UK economy. Market consensus expects the M4 Money Supply to have expanded 0.5% inter-month during December, while Mortgage Approvals, Consumer Credit and Net Lending to Individuals all would come below estimates.
Across the ocean, the flash print of the US GDP Annualized will take centre stage, with estimates pointing to a 3.3% expansion during Q4.
GBP/USD key levels
At the moment the pair is up 0.09% at 1.5080 a breakout of 1.5223 (high Jan.27) would aim for 1.5096 (10-d MA) ahead of 1.5165 (high Jan.29) and then 1.5235 (high Jan.16). On the downside, the initial support aligns at 15018 (low Jan.29) followed by 1.4972 (low Jan.26) and then 1.4952 (low Jan.23).