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26 Feb 2015
GBP/USD retreats from 1.5550
FXStreet (Edinburgh) - After climbing as high as 1.550 overnight, GBP/USD is now giving away part of those gains and returned to the 1.5530/25 band.
GBP/USD firm above 1.5500
The sterling is prolonging its upside momentum propped up by a renewed offered tone surrounding the dollar and the positive prospects from the UK economy. Expectations for a rate hike towards year-end or early 2016 keep acting as a strong support for the pound as well, as stated by the recent appreciation by Governor Carney.
Ahead in the session, flash figures for the UK GDP during the fourth quarter are due, with prior surveys pointing to an annual expansion of 2.7% and 0.5% inter-quarter.
GBP/USD key levels
As of writing the pair is down 0.02% at 1.5531 with the next support at 1.5500 (psychological level) ahead of 1.5448 (low Feb.25) and then 1.5403 (low Feb.24). On the other hand, the initial up barrier aligns at 1.5588 (2015 high Jan.2) followed by 1.5621 (high Dec.31) and then 1.5753 (high Dec.17).
GBP/USD firm above 1.5500
The sterling is prolonging its upside momentum propped up by a renewed offered tone surrounding the dollar and the positive prospects from the UK economy. Expectations for a rate hike towards year-end or early 2016 keep acting as a strong support for the pound as well, as stated by the recent appreciation by Governor Carney.
Ahead in the session, flash figures for the UK GDP during the fourth quarter are due, with prior surveys pointing to an annual expansion of 2.7% and 0.5% inter-quarter.
GBP/USD key levels
As of writing the pair is down 0.02% at 1.5531 with the next support at 1.5500 (psychological level) ahead of 1.5448 (low Feb.25) and then 1.5403 (low Feb.24). On the other hand, the initial up barrier aligns at 1.5588 (2015 high Jan.2) followed by 1.5621 (high Dec.31) and then 1.5753 (high Dec.17).