GBP/USD aiming for 1.5320 – FXStreet

FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, GBP/USD might make a short-term rally towards 1.5320 levels if the pair breaks above the immediate resistance at 1.5275.

Key Quotes

“The Pound has regained some charm this Thursday, rising against the USD towards this week high of 1.5268 as the market slowly digests latest SNB decision that rocked the world. There has been no fundamental data released in the UK to affect the British currency, but upcoming US PPI readings and NY Manufacturing index may affect the pair later on the day.”

“In the meantime, the 4 hours chart shows that the price found support in a strongly bullish 20 SMA, whilst indicators bounced from their midlines, supporting some further advances.”

“The immediate resistance stands at 1.5275, so it will take some upward acceleration through the level to confirm a short term rally up to 1.5320 next strong static resistance level.”

“The immediate short term support stands at 1.5220, with a break below it exposing the pair to a test of 1.5170 price zone.”