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GBP/USD bounces off 1.5140

FXStreet (Edinburgh) - GBP/USD has managed to rebound from intraday lows around the 1.5140 region posted overnight, advancing to the area of 1.5180 during the European morning.

GBP/USD recovers from recent pullback

After yesterday’s deep pullback from recent tops near 1.5240, the pair is now gathering some traction and testing the upper band of the daily range in the vicinity of 1.5180, all against the backdrop of prevailing USD weakness.

Data wise in the UK, House Prices tracked by the Halifax index contracted 0.9% MoM during September. Ahead in the week, UK’s Industrial and Manufacturing Production are due tomorrow, ahead of the BoE monetary policy meeting and minutes on Thursday.

GBP/USD significant levels

As of writing the pair is up 0.15% at 1.5170 with the next resistance at 1.5244 (high Oct.5) followed by 1.5261 (high Sep.25) and finally 1.5364 (high Sep.23). On the flipside, a break below 1.5137 (low Oct.2) would expose 1.5107 (low Oct.1) and then 1.5089 (low May 5).

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