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GBP/USD set sails to 1.6400

FXStreet (Edinburgh) - The sterling is now following the better tone from the risk appetite, pushing GBP/USD to challenge overnight peaks near 1.6400 the figure.

GBP/USD supported around 1.6300

After bottoming out in the proximity of 1.6300 the figure, buying interest re-emerged and lifted spot to the current 1.6390/1.6400 band. Data wise in the UK, Mortgage Approvals dropped to 41.6K during August vs. 42.9K forecasted and 42.8K previous while the Public Sector Net Borrowing rose to £10.883 billion. Quek Ser Leang, Market Strategist at UOB Group, observed, “The outlook for this pair is mixed for today, expect sideway consolidation between 1.6320 and 1.6405”.

GBP/USD levels to watch

At the moment the pair is advancing 0.17% at 1.6390 and a surpass of 1.6445 (30-d MA) would aim for 1.6525 (high Sep.19) and finally 1.6615 (high Sep.2). On the flip side, the immediate support aligns at 1.6300 (psychological level) ahead of 1.6291 (10-d MA) and then 1.6285 (low Sep.22).

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