12 Jun 2015
London Close: GBP/USD rockets to fresh June highs
FXStreet (Orlando) - The British Pound jumped 90 pips against the US Dollar from 1.5490 to fresh June's highs above 1.5580 as the London close arrived and investors are buying the GBP ahead the weekend with Greece debt, Tsipras, Juncker and Grexit on the spotline.
The GBP/USD broke out the consolidation range between 1.5480 and 1.5530 and it accelerated to break previous highs at 1.5555 too. In addition, the US Dollar index DXY went into the negative territory following softness in the US yields.
GBP/USD levels
Currently, GBP/USD is trading at 1.5567, up 0.33% on the day, having posted a daily high at 1.5584 and low at 1.5467. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
If the pair consolidates levels above 1.5550, it will find resistances at 1.5580, 1.5600 and 1.5620. To the downside, supports are at 1.5530, 1.5500 and 1.5460.
The GBP/USD broke out the consolidation range between 1.5480 and 1.5530 and it accelerated to break previous highs at 1.5555 too. In addition, the US Dollar index DXY went into the negative territory following softness in the US yields.
GBP/USD levels
Currently, GBP/USD is trading at 1.5567, up 0.33% on the day, having posted a daily high at 1.5584 and low at 1.5467. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
If the pair consolidates levels above 1.5550, it will find resistances at 1.5580, 1.5600 and 1.5620. To the downside, supports are at 1.5530, 1.5500 and 1.5460.