2013-05-30 06:28 GMT
GBP/USD was held off yesterday recording a low of 1.5008 and climbed on a broad based dollar squeeze across a range of pairs. The resistance line at 1.5130 was pretty key and now come sin as support above pivot 1.5095 as the market is targeting the upside for resistance at 1.5170, 1.5190 and 1.5220.
Sterling extended its gains and reached 1.5186 on the Asian handover when UK Nationwide Housing Prices year on year came in better than expected 1.1% vrs 0.9%. On the calendar today, there is the second reading of Q1 GDP. This is expected to come in unchanged from the first estimate at 2.5% Q/Q annualised. Also, initial jobless claims are expected to match last week’s print of 340K. – FXstreet.com (London)