FXStreet (Edinburgh) – The buying interest around the sterling is now gathering further traction, lifting GBP/USD to test fresh highs near 1.4460.
GBP/USD stronger on Services PMI
The pair saw its upside accelerated to 3-week highs after UK’s Services PMI has come in at 55.6 during January, surpassing previous estimates and up from December’s reading.
In the meantime, spot is navigating the key resistance area in the mid-1.4400s, benefiting at the same time from the offered tone in EUR/GBP.
GBP/USD levels to consider
As of writing the pair is up 0.19% at 1.4442 and a breakout of 1.4500 (psychological level) would open the door to 1.4522 (38.2% Fibo of 1.5240-1.4079) and then 1.4752 (55-day sma). On the other hand, the next support aligns at 1.4147 (low Jan.29) followed by 1.4079 (low Jan.20) and finally 1.4000 (psychological level).
(Market News Provided by FXstreet)