GBP USD moved higher
9/22/2016 9:19:17 AM
The GBP/USD pair expands its post-FOMC upbeat momentum into Europe, having moved higher from a minor merging level around 1.3030 region.
Currently, GBP/USD increases +0.16% to 1.3055, trading within a considerable distance of fresh four-day highs got at 1.3058. The cable’s bullish run regained traction after the dollar continued the FOMC-backed weakening against its major peers in early Europe. In the meantime, the USD index fell -0.10% to 95.36 levels.
Furthermore, constant risk-on sentiment, in reaction to higher commodities’ prices, mainly oil, improved the demand for higher-yielding/ risk currencies such as the GBP. Later today, we have the BOE FPC statement and CBI industrial orders data aligned for release from the UK docket. While BOE Carney speech due later in the NA session will be also closely eyed.
The pair has an immediate persistence at 1.3110, above which 1.3145 would be tested. On the other hand, support is seen at 1.3022 below that at 1.3000.