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16 Sep 2015
GBP/USD extends rally to 1.5435, rises 1 big figure
FXStreet (Mumbai) - The bid tone around the GBP/USD pair keeps increasing during the European trading hours, as the pound is preferred over its American rival on the back of the upbeat UK jobs data and the ongoing M & A chatter.
The US CPI in focus
The GBP/USD pair trades 0.54% higher at fresh session highs of 1.5430, holding firmly above 1.54 handle. The pound remains firmly bid versus the US dollar on the back of the recent talks over the mergers and acquisition deal between Belgian drinks company AB Inbev and the UK’s SAB Miller, as reported by FT.
Moreover, the impressive UK’s labour market report also keeps the GBP buyers motivated amid widespread cautiousness ahead of the Fed decision due tomorrow.
Meanwhile, broad based US dollar strength has been ignored by the markets as they continue bidding up GBP/USD before the US CPI data release.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5473 (Sept 14 High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5368 (Aug 27 Low) levels.
The US CPI in focus
The GBP/USD pair trades 0.54% higher at fresh session highs of 1.5430, holding firmly above 1.54 handle. The pound remains firmly bid versus the US dollar on the back of the recent talks over the mergers and acquisition deal between Belgian drinks company AB Inbev and the UK’s SAB Miller, as reported by FT.
Moreover, the impressive UK’s labour market report also keeps the GBP buyers motivated amid widespread cautiousness ahead of the Fed decision due tomorrow.
Meanwhile, broad based US dollar strength has been ignored by the markets as they continue bidding up GBP/USD before the US CPI data release.
GBP/USD Levels to consider
The pair has an immediate resistance at 1.5473 (Sept 14 High) above which gains could be extended to 1.5509 (Aug 27 High) levels. On the flip side, support is seen at 1.5400 below which it could extend losses to 1.5368 (Aug 27 Low) levels.