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23 May 2013
GBP/USD in highs around 1.5120
FXstreet.com (Barcelona) - The sterling has quickly left behind the key resistance at 1.5100 on Thursday to climb to fresh intraday highs in the proximities of 1.5115/20, as risk appetite sharpens.
The risk-on trade is gaining momentum on Thursday, pushing the cross higher from pre-Europe levels around 1.5020/25 alongside renewed weakness in the greenback. Earlier on, the Q1 GDP figures in the UK showed that the British economy expanded 0.3% inter-quarter and 0.6% over the last twelve months, broadly in line with market expectations.
GBP/USD is now up 0.46% at 1.5119 facing the next hurdle at 1.5175 (high May 22) followed by 1.5208 (MA10d) and then 1.5255 (MA55d).
On the flip side, a breach of 1.5014 (low May 23) would open the door to 1.4965 (low Mar.7) and finally 1.4915 (low Mar.14).
The risk-on trade is gaining momentum on Thursday, pushing the cross higher from pre-Europe levels around 1.5020/25 alongside renewed weakness in the greenback. Earlier on, the Q1 GDP figures in the UK showed that the British economy expanded 0.3% inter-quarter and 0.6% over the last twelve months, broadly in line with market expectations.
GBP/USD is now up 0.46% at 1.5119 facing the next hurdle at 1.5175 (high May 22) followed by 1.5208 (MA10d) and then 1.5255 (MA55d).
On the flip side, a breach of 1.5014 (low May 23) would open the door to 1.4965 (low Mar.7) and finally 1.4915 (low Mar.14).