FXStreet (Edinburgh) – After reaching session peaks near 1.4820, GBP/USD has now deflated to the 1.4785/80 band amidst some recovery of the greenback.
GBP/USD buoyant ahead of US docket
The sterling maintains its daily advance so far in spite of the softer result from UK’s manufacturing PMI during December. However, the initial bid tone seems to remain somehow, supported by favourable risk sentiment and better prints from Mortgage Approvals, Consumer Credit and Net Lending to Individuals.
Next of relevance for the pair will be US ISM Manufacturing and Markit’s manufacturing PMI during the last month, both expected to come in a tad better from November.
GBP/USD important levels
The pair is now advancing 0.34% at 1.4784 with the next up barrier at 1.4947 (high Dec.24) ahead of 1.5000 (psychological level) and finally 1.5102 (55-day sma). On the downside, a breach of 1.4632 (low Mar.18) would open the door to 1.4563 (low Apr.13) and then 1.4500 (psychological level).
(Market News Provided by FXstreet)