FXStreet (Edinburgh) – The pound is now gathering further traction against the greenback, lifting GBP/USD to session tops in the boundaries of 1.5400 the figure.
GBP/USD up on risk sentiment
Once again, yields in German Bunds are soaring, extending yesterday’s rally and pushing higher the rest of the risk-associated universe. The pair is posting multi-day peaks in the 1.5400 neighbourhood, following its European peer and in response to the drop in the dollar.
Ahead in the session, albeit far from being a market mover, the BoE will hold its monthly meeting, with consensus expecting a steady stance in the refi rate and the bond-buying scheme.
GBP/USD levels to consider
The pair is now up 0.44% at 1.5408 with the next resistance at 1.5437 (high May 27) ahead of 1.5457 (high May 26) and finally 1.5507 (high May 25). On the flip side, a break below 1.5304 (low Jun.4) would open the door to 1.5254 (low Jun.3) and then 1.5200 (psychological level).
(Market News Provided by FXstreet)