GBP/USD remain above 1.5600 on UK data

July 29, 2015

The sterling kept the composure after UK releases today, with GBP/USD navigating the low-1.5600s so far.

GBP/USD clings to 1.5600

The pair is trading almost unchanged around the 1.5600 handle today, despite auspicious results in the UK docket, where Mortgage Approvals and Consumer Credit have both surpassed initial estimates at 66.58K and £1.22 billion, respectively. Further data showed M4 Money Supply contracting 0.5% from May to June and Net Lending to Individuals increasing to £3.8 billion in June.

GBP/USD key levels

The pair is now down 0.02% at 1.5612 and a break below 1.5588 (low Jul.29) would open the door to 1.5528 (low Jul.28) ahead of 1.5490 (low Jul.27). On the upside, the immediate barrier lines up at 1.5623 (high Jul.29) followed by 1.5648 (high Jul.22) and then 1.5670 (high Jul.23). 

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