FXStreet (Edinburgh) – The pound is now shedding part of the initial gains against the dollar, with GBP/USD now returning to the 1.5235/30 band.
GBP/USD firmer on UK data, Greece
The pair gathered further traction following the auspicious results from the UK economy posted earlier during the European morning, showing the Construction PMI, Mortgage Approvals and Consumer Credit all coming in above estimates.
Rumours that a EU-Greece deal could be clinched in the next days (hours) have been also bolstering the appetite for the riskier assets and somehow sustaining today’s upside in the pair.
GBP/USD important levels
At the moment the pair is advancing 0.30% at 1.5246 with the next resistance at 1.5272 (high Jun.2) followed by 1.5305 (high Jun.1) and then 1.5343 (high May 29). On the downside, a break below 1.5181 (low Jun.2) would open the door to 1.5170 (low Jun.1) and then 1.5167 (100-d MA).
(Market News Provided by FXstreet)