This surge comes ahead of a bevy of economic data scheduled for release later this morning in the United Kingdom, including some important manufacturing and industrial indicators. Consensus expectations are calling for a rather gloomy forecast however, which seems to have been the theme of the day so far across Europe.
In terms of technical levels, the GBP/USD has settled presently in the region of 1.5622, marking a modest advance of +0.11% on the day. According to the technical analysts at ICN.com, the pair’s rise will be tested by measures of resistance at 1.5630, 1.5690, and ultimately 1.5730. Conversely, a revision back towards negative territory will inch closer towards the supports at 1.5555, 1.5510, and 1.5490.