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GBP/USD testing highs near 1.4530 Pablo Piovano

08:46 23 May /2016 Forex

The sterling is now marginally up vs. the greenback, taking GBP/USD to the upper end of the range near 1.4530.

GBP/USD attention to ‘Brexit’

The pair is extending last week’s gains above the 1.4500 handle today as the recent USD rally seems to be losing some momentum, although gains appear somewhat capped by recent highs near 1.4700 the figure.

In the meantime, GBP remains vulnerable to results from the UK referendum polls. Latest figures from YouGov show the ‘Remain’ vote keeps leading with 44% and the ‘Leave’ vote with 40%.

GBP/USD levels to consider

As of writing the pair is advancing 0.12% at 1.4531 facing the immediate hurdle at 1.4666 (high May 19) ahead of 1.4770 (high May 3) and then 1.4815 (2016 high Jan.4). On the other hand, a breakdown of 1.4361 (20-day sma) would aim for 1.4337 (100-day sma) and finally 1.4330 (low May 16).