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21 May 2015
GBP/USD extends beyond 1.5600 on data
FXStreet (Edinburgh) - The sterling is now gathering further traction vs. the greenback, lifting GBP/USD to fresh tops near 1.5650.
GBP/USD stronger post-UK data
The pair is extending its upside momentum after retail sales in the UK economy surprised investors to the upside during April. In fact, headline sales expanded 1.2% inter-month and 4.7% over the last twelve months, while sales excluding Fuel rose 1.2% MoM and 4.7% on a yearly basis.
Next on tap in the British economy will be the Industrial Trend Orders tracked by CBI, expected at 3 for the current month.
GBP/USD key levels
As of writing the pair is up 0.64% at 1.5636 and a break above 1.5647 (high May 21) would open the door to 1.5700 (psychological level) and finally 1.5745 (high May 18).
On the flip side, the immediate support lines up at 1.5473 (low May 20) followed by 1.5447 (low May 19) and then 1.5393 (low May 11).
GBP/USD stronger post-UK data
The pair is extending its upside momentum after retail sales in the UK economy surprised investors to the upside during April. In fact, headline sales expanded 1.2% inter-month and 4.7% over the last twelve months, while sales excluding Fuel rose 1.2% MoM and 4.7% on a yearly basis.
Next on tap in the British economy will be the Industrial Trend Orders tracked by CBI, expected at 3 for the current month.
GBP/USD key levels
As of writing the pair is up 0.64% at 1.5636 and a break above 1.5647 (high May 21) would open the door to 1.5700 (psychological level) and finally 1.5745 (high May 18).
On the flip side, the immediate support lines up at 1.5473 (low May 20) followed by 1.5447 (low May 19) and then 1.5393 (low May 11).