- The pound gains for the fifth day in a row against the US dollar.
- Supported by a decline in the US dollar, the GBP / USD erased last week’s losses.
The GBP/USD it rose even higher and reached 1.3825 during the US session, reaching the highest level since April 7. The pound remains near the ceiling, supported by a strong performance of the pound and amid appetite for risk.
Staying above 1.3800
On the one and four hour charts, GBP / USD remains above the 1.3800 area. As long as you are up, the additional winnings will remain on the table. The next barrier emerges at 1.3845 / 50.
On a weekly basis, GBP / USD rebounded from the 20-week simple moving average around 1.3700 and erased last week’s losses. So far, the pound is having the best weekly performance since early February.
Mixed data in the US
In the US, housing data beat expectations, such as retail sales and initial jobless claims figures on Thursday. The latest report was Consumer Confidence from the University of Michigan. The main index rose but disappointed expectations with 86.5, the highest level in a year. The inflation expectations readings went up.
The US dollar is showing limited price actions in the markets on Friday. The DXY is trading around 91.50, modestly lower for the day. US yields are higher on Friday, after the biggest drop in months yesterday. The 10-year yield stands at 1.582%, far from Thursday’s low of 1.52%.
Technical levels
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