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14 May 2015
GBP/USD advances through 1.5800
FXStreet (Edinburgh) - The bid tone around the pound keeps growing up on Thursday, now pushing GBP/USD through the critical resistance at 1.5800.
GBP/USD in 6-month tops
The pair broke above the 1.5800 handle today boosted by the persistent softness around the greenback and the increasing sentiment towards the risk-associated universe.
The sterling managed to quickly leave behind the dovish tone from the BoE‘s Quarterly Inflation Report published yesterday and is extending its advance for the second consecutive week.
GBP/USD key levels
The pair is now up 0.33% at 1.5798 and a break above 1.5826 (high Nov.27 2014) would expose 1.5880 (50% of 1.7192-1.4567) and then 1/5940 (high Nov.12 2014). On the other hand, the immediate support lines up at 1.5728 (low May 14) followed by 1.5613 (200-d MA) and finally 1.5558 (low May 12).
GBP/USD in 6-month tops
The pair broke above the 1.5800 handle today boosted by the persistent softness around the greenback and the increasing sentiment towards the risk-associated universe.
The sterling managed to quickly leave behind the dovish tone from the BoE‘s Quarterly Inflation Report published yesterday and is extending its advance for the second consecutive week.
GBP/USD key levels
The pair is now up 0.33% at 1.5798 and a break above 1.5826 (high Nov.27 2014) would expose 1.5880 (50% of 1.7192-1.4567) and then 1/5940 (high Nov.12 2014). On the other hand, the immediate support lines up at 1.5728 (low May 14) followed by 1.5613 (200-d MA) and finally 1.5558 (low May 12).