Back
25 Feb 2015
GBP/USD attacks daily highs at 1.5540
FXStreet (San Francisco) - The Sterling's recovery from the 1.5480 against the US Dollar is extending its movement above 1.5520, just ahead of today's highs of 1.5540. However, some sellers are giving a pause to the GBP/USD rally that is now trading in consolidation mode around 1.5525.
Currently, GBP/USD is trading at 1.5525, up 0.44% on the day, having posted a daily high at 1.5540 and low at 1.5445. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
The dollar is trading under pressure as investors are selling the Greenback on the back of Yellen's two days of testimonies given that markets are now concluding that there will be no hike in June from a data dependent Fed.
According to FXStreet chief analyst Valeria Bednarik, "renewed buying interest above 1.5535 should lead to a retest of this year high of 1.5582, while a break above this last exposes the 1.5660 price zone, as next main bullish target."
To the downside, supports are at 1.5500, 1.5480 and 1.5460.
Currently, GBP/USD is trading at 1.5525, up 0.44% on the day, having posted a daily high at 1.5540 and low at 1.5445. GBP/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
The dollar is trading under pressure as investors are selling the Greenback on the back of Yellen's two days of testimonies given that markets are now concluding that there will be no hike in June from a data dependent Fed.
According to FXStreet chief analyst Valeria Bednarik, "renewed buying interest above 1.5535 should lead to a retest of this year high of 1.5582, while a break above this last exposes the 1.5660 price zone, as next main bullish target."
To the downside, supports are at 1.5500, 1.5480 and 1.5460.