GBP USD Fundamental Analysis 2
8/16/2016 10:46:04 AM
The Sterling is now following the rest of the risk-associated benefits on their way up on Tuesday, sending GBP/USD to test session highs near 1.2980. GBP/USD bid on USD descent, data the pair found additional buying pressure after UK’s consumer prices have exceeded expectations during July, increasing at an annualized 0.6% while contracting 0.1% on a monthly basis. Spot keeps the positive sentiment intact today in reaction to an improved and strong selling pressure around the dollar, which has provoked GBP to recoil yesterday’s lows in the 1.2860 area. As of writing the pair is up 0.79% at 1.2982 and a breakout of 1.3115 would aim for 1.3373 and ultimately 1.3481. On the other hand, the next support line up at 1.2865 followed by 1.2850 and then 1.2800.
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