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GBP/USD revisiting daily highs

FXStreet (Mumbai) - The GBP/USD pair is eyeing daily highs at 1.5180 levels ahead of the data in the US, which could show the trade deficit spiked in August.

Focus on US data

The consensus estimate calls for a rise in the US trade deficit to USD 47.40 billion from USD 41.86 billion. Last week, US reported a sharp rise in the visible/goods trade deficit in August.

Apart from the data, the sentiment on the Wall Street could also affect the pair. However, the focus would slowly shift to the UK industrial production due tomorrow, once the traders have seen early action in the US stocks.

GBP/USD Technical Levels

At 1.5172, the immediate resistance is seen at 1.5180-1.52, followed by a major hurdle at 1.5244 (Monday’s high). On the downside, support is seen at 1.5136 (Monday’s low) and 1.51 levels.

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