21 Jan 2014
GBP/USD climbs to highs around 1.6440
FXstreet.com (Edinburgh) - The sterling is extending its upside momentum on Tuesday, lifting the GBP/USD to the 1.6440 region, posting fresh intraday highs at the same time.
GBP/USD looks to BoE minutes
After dipping to the proximity of the 1.6300 handle during last week, the pair gained traction and not only recovered 1.6400 but it is also attempting to challenge Monday’s peaks around 1.6450. Ahead in the day, the CBI Industrial Trends Survey is due (10 exp. vs 12 prev.) although the most relevant events will be Wednesday’s BoE minutes and the labour market releases, as the ILO jobless rate is expected to ease to 7.3% in the three months ended in November.
GBP/USD significant levels
As of writing the pair is up 0.03% at 1.6443 with the immediate hurdle at 1.6458 (high Jan.17) and then 1.6517 (high Jan.10). On the downside, a breach of 1.6304 (MA55d) would expose 1.6259 (October high).
GBP/USD looks to BoE minutes
After dipping to the proximity of the 1.6300 handle during last week, the pair gained traction and not only recovered 1.6400 but it is also attempting to challenge Monday’s peaks around 1.6450. Ahead in the day, the CBI Industrial Trends Survey is due (10 exp. vs 12 prev.) although the most relevant events will be Wednesday’s BoE minutes and the labour market releases, as the ILO jobless rate is expected to ease to 7.3% in the three months ended in November.
GBP/USD significant levels
As of writing the pair is up 0.03% at 1.6443 with the immediate hurdle at 1.6458 (high Jan.17) and then 1.6517 (high Jan.10). On the downside, a breach of 1.6304 (MA55d) would expose 1.6259 (October high).