GBP USD powerful
4/1/2016 9:57:00 AM
The GBP has managed to rebound fresh multi-week lows near 1.4690 during overnight trade, quickly retrieval the 1.4700 handle and progressing to the current area of daily highs around 1.4760. The buying consideration around the sterling stays well and complete during the European morning today, with GBP/USD playing with session highs in the 1.4760 area. GBP will remain under pressure in light of the imminent manufacturing PMI in the UK economy for the month of December, supported by November’s Consumer Credit, Mortgage Approvals and Net Lending to Persons. “The pair is now progressing 0.16% at 1.4758 with the next up barrier at 1.4947 ahead of 1.5000 and ultimately 1.5102. On the shortcoming, a break of 1.4632 would open the door to 1.4563 and then 1.4500.”