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14 Aug 2015
GBP/USD rises to daily highs after US sentiment data
FXStreet (Córdoba) - GBP/USD pushed higher and printed fresh daily highs above 1.5650 as disappointing consumer sentiment data offset a better-than-expected US PPI reading.
The University of Michigan consumer sentiment index came in at 92.9 in August, according to a preliminary reading, versus 93.5 expected.
GBP/USD extended intraday gains and posted a high of 1.5656 in recent dealings. At time of writing, the pair is trading at 1.5649, recording a 0.26% rise on Friday.
In the absence of economic data for the rest of the session and with Chinese volatility having decreased significantly today, investors’ attention now turns to events that could shed light over a potential Fed hike in September.
GBP/USD levels to watch
In terms of technical levels, GBP/USD could find next resistances at 1.5656/58 (Aug 14 & 12 high), and 1.5700 (psychological level). On the other hand, supports are seen at 1.5588 (Aug 14 low), 1.5573 (Aug 13 low) and 1.5533 (Aug 12 low).
The University of Michigan consumer sentiment index came in at 92.9 in August, according to a preliminary reading, versus 93.5 expected.
GBP/USD extended intraday gains and posted a high of 1.5656 in recent dealings. At time of writing, the pair is trading at 1.5649, recording a 0.26% rise on Friday.
In the absence of economic data for the rest of the session and with Chinese volatility having decreased significantly today, investors’ attention now turns to events that could shed light over a potential Fed hike in September.
GBP/USD levels to watch
In terms of technical levels, GBP/USD could find next resistances at 1.5656/58 (Aug 14 & 12 high), and 1.5700 (psychological level). On the other hand, supports are seen at 1.5588 (Aug 14 low), 1.5573 (Aug 13 low) and 1.5533 (Aug 12 low).