Forex: GBP/USD trading at session highs at 1.5687/88

The GBP/USD has final shown some signs of life Thursday, having jumped nearly 25 pips in recent minutes to trade at its session highs of 1.5687/88 during European trading. Ahead of some the data release in the United Kingdom, the pair is recording an advance of +0.12% on the day.

In the United Kingdom, a tranche of economic data is expected to be revealed at 9:30 GMT, including Trade Balance Statistics, Industrial Production figures, and Manufacturing. Moreover at 9:45 GMT Mark Carney is expected to address parliament. Without a doubt the most crucial event for the cross today however, will be the BOE Interest rate decision, along with the BOE Asset Purchase Facility at 12:00 GMT.

After breaking through resistance at 1.5676, the Mataf.net analyst team points to additional means of correction at 1.5701 onto 1.5723. Conversely, a prolonged fall below the 1.5629 handle will trigger supportive measures at 1.5607 and eventually 1.5582.