GBP/USD finds support at 1.5480; back at highs

FXStreet (Orlando) – The GBP/USD is trading in consolidation mode around 1.5500 following the latest bullish movement that drove the pair from 1.5370 to price at highs since May 22 at 1.5555. Then, after a short period of retracement to 1.5480, the British Pound was bought again.

Currently, GBP/USD is trading at 1.5535, up 0.98% on the day, having posted a daily high at 1.5556 and low at 1.5369. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.

GBP/USD Forecast

If the pair extends advance beyond 1.5555, next resistances are at 1.5580 and 1.5600. To the downside, supports are at 1.5480, 1.5440 and 1.5400.

The GBP/USD is trading in consolidation mode around 1.5500 following the latest bullish movement that drove the pair from 1.5370 to price at highs since May 22 at 1.5555. Then, after a short period of retracement to 1.5480, the British Pound was bought again.

(Market News Provided by FXstreet)