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GBP/USD in highs around 1.5350

FXstreet.com (Barcelona) - The sterling has quickly left behind the 1.5300 handle after the lacklustre ISM manufacturing result in the US economy disappointed investors.

After hitting weekly highs in the region of 1.5375/80, pound has retraced some ground, currently gyrating around the mid 1.53s. “Market pricing suggests around 2bp of tightening is now priced in for the BoE from June 2014, likely affected by some recent improvement in UK data. This week is unlikely to see a change from the BoE. More important for market pricing and GBP will be data and events heading into the August meeting, which will be the first under Mark Carney”, assessed Melinda Burgess, FX Trading Strategist at RBS.

The pair is now advancing 0.92% at 1.5350 with the next resistance at 1.5331 (high May 14). On the downside, support levels align at 1.5136 (MA10d) followed by 1.5111 (low May 30) and finally 1.5008 (low May 29).

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