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GBP/USD spikes to highs near 1.5230

FXStreet (Edinburgh) - The buying interest seems to have woken up around the sterling on Monday, now lifting GBP/USD to session highs near 1.5230.

GBP/USD bounces off 1.5170

After bottoming out in the 1.5175/70 band during the Asian trading hours, spot has managed to gather traction and regain the 1.5200 and above against the backdrop of a generalized lack of direction in the global markets.

There are no scheduled releases in the UK economy today, whereas the US docket is poised to set the tone later in the session, as inflation figures gauged by the PCE are due ahead of Personal Income/Spending, Pending Home Sales and the Dallas Fed Manufacturing Business Index.

In addition, market participants will also remain vigilant on today’s speeches by Fed’s Evans, Dudley. Williams and Tarullo.

GBP/USD significant levels

As of writing the pair is up 0.25% at 1.5216 with the next resistance at 1.5263 (high Sep.25) ahead of 1.5289 (high Sep.24) and finally 1.5364 (high Sep.23). On the flipside, a break below 1.5135 (low Sep.25) would aim for 1.5089 (low May 7) and then 1.5035 (low Apr.24).

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