The sterling is now (finally) recovering the smile, pushing GBP/USD to fresh daily highs in the 1.4020/25 band.
GBP/USD in 2-day tops
The pair is advancing for the second straight session today, posting 2-day peaks above the critical 1.4000 handle following a renewed buying interest around GBP. Collaborating with the risk-on sentiment, European equity markets are extending their march north following a positive open today.
GBP has gained further ground after ‘Brexit’ fears seem to have alleviated somewhat in light of recent polls favouring the ‘Remain’ vote.
GBP/USD levels to consider
As of writing the pair is up 0.32% at 1.4009 with the next hurdle at 1.4340 (20-day sma) followed by 1.4508 (55-day sma) and finally 1.4670 (high Feb.4). On the other hand, a breakdown of 1.3876 (low Feb.24) would expose 1.3681 (monthly low June 2001) and then 1.3653 (monthly low March 2009).
(Market News Provided by FXstreet)