3 Jul 2013
GBP/USD peeps above 1.5300
FXstreet.com (Córdoba) - The GBP/USD jumped to fresh daily highs during the American session as the dollar weakened across the board amid better sentiment.
GBP/USD jumps to fresh highs, 200-day SMA caps
With US stocks crawling back to positive ground, the USD faced a wave of selling that took GBP/USD to its highest in near a week above 1.5300. However, the pair stalled at the 200-hour SMA around 1.5302 and it is currently trading at the 1.5285 zone, still up 0.9% on the day.
GBP/USD holds positive tone, 1.5300 key level
"Fresh bulls, established on hourly chart, are supportive for further recovery, with break above 1.5300, 50% retracement / 55 day EMA, required to confirm near-term base and resume gains", Slobodan Drvenica, says analyst at Windsor Brokers Ltd. "Bullish 20/55 EMA’s crossover at 1.5200, underpins and only break here would weaken near-term structure and shift focus towards 1.5090, trendline support".
GBP/USD jumps to fresh highs, 200-day SMA caps
With US stocks crawling back to positive ground, the USD faced a wave of selling that took GBP/USD to its highest in near a week above 1.5300. However, the pair stalled at the 200-hour SMA around 1.5302 and it is currently trading at the 1.5285 zone, still up 0.9% on the day.
GBP/USD holds positive tone, 1.5300 key level
"Fresh bulls, established on hourly chart, are supportive for further recovery, with break above 1.5300, 50% retracement / 55 day EMA, required to confirm near-term base and resume gains", Slobodan Drvenica, says analyst at Windsor Brokers Ltd. "Bullish 20/55 EMA’s crossover at 1.5200, underpins and only break here would weaken near-term structure and shift focus towards 1.5090, trendline support".