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GBP/USD toying with 1.5200

FXStreet (Edinburgh) - The sterling is now gathering traction vs. the dollar, pushing GBP/USD back to the 1.5200 neighbourhood.

GBP/USD bid post-UK data

The pair has seen its daily recovery accelerated after mixed results in the UK economy showed Mortgage Approvals ticking higher during August to 71.03K, surpassing both estimates and previous print; in the same direction, Net Lending to Individuals climbed to £4.3 billion vs. £4.0 billion in the previous month.

Further data saw the BoE Consumer Credit coming in below consensus at £0.86 billion, down from July’s £1.163 billion and the M4 Money Supply contracting at a monthly pace of 0.4% vs. a 0.7% advance initially forecasted.

GBP/USD significant levels

As of writing the pair is up 0.13% at 1.5193 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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