Forex: GBP/USD regains 1.5300

After dipping to multi-month lows in the proximity of 1.5280, the sterling is picking up pace now and trading back above the 1.5300 handle after the US data. Building Permits rose above estimates to 925K during January while the construction of new houses declined to 890K in comparison with December’s 973K. Continuing with the results, US Producer Prices matched the median rising 1.4% on a yearly basis while the Core reading rose 1.8%.

At the moment, the cross is attempting a rebound at 1.5316 albeit losing 0.70%, with the next support at 1.5269 (2012 low Jun.1 2012) ahead of 1.5190 (61.8% of 1.4228-1.6747) and 1.5125 (low Jul.21 2010).
On the upside, a surpass of 1.5452 (hourly high Feb.20) would bring 1.5544 (high Feb.14) and then 1.5550 (high Feb.15).