Back
1 Apr 2013
Forex: GBP/USD advances through 1.5200
FXstreet.com (Barcelona) - The GBP/USD is advancing during the London morning, having recovered the 1.5200 handle and trading at 1.5217, as of writing, close to Friday’s high at 1.5219. Further on the upside is 1.5260, last week’s high that might keep the pair from more gains.
The economic calendar in Europe is empty after the publication of Greek Markit manufacturing PMI that eased from 43 to 42.1 in March. In China, NBS manufacturing PMI rose from 50.1 to 50.9 (below consensus of 51.2) and the HSBC data beat consensus from 50.4 to 51.6 (expectations at 51.5). The NY session will provide US manufacturing data updates, including ISM and Markit PMI.
“A break above the recent 1.5260 high should also a clear above the falling trendline and give a near-term bullish outlook first to the 1.5321 resistance pivot. Next, the 38.2% retracement level in the 1.5405-1.5422 area would be in sight”, wrote FXstreet.com analyst Fan Yang.
The economic calendar in Europe is empty after the publication of Greek Markit manufacturing PMI that eased from 43 to 42.1 in March. In China, NBS manufacturing PMI rose from 50.1 to 50.9 (below consensus of 51.2) and the HSBC data beat consensus from 50.4 to 51.6 (expectations at 51.5). The NY session will provide US manufacturing data updates, including ISM and Markit PMI.
“A break above the recent 1.5260 high should also a clear above the falling trendline and give a near-term bullish outlook first to the 1.5321 resistance pivot. Next, the 38.2% retracement level in the 1.5405-1.5422 area would be in sight”, wrote FXstreet.com analyst Fan Yang.