GBP/USD rally capped at 1.5365; back to 1.5330

FXStreet (Orlando) – The British Pound’s rally against the US Dollar from 1.5215 was capped after 150 pips at 1.5365 where the GBP/USD was sold again. After trading under pressure in the American morning, the USD woke up by the US lunch and the Forex market sent the pair down to 1.5330.

Currently, GBP/USD is trading at 1.5344, up 0.94% on the day, having posted a daily high at 1.5370 and low at 1.5180.

The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.

GBP/USD levels

If the pair extends 1.5365 rejection, it will fin supports at 1.5330, 1.5300 and 1.5280. To the upside, resistances are at 1.5365, 1.5380 and 1.5430.

The British Pound’s rally against the US Dollar from 1.5215 was capped after 150 pips at 1.5365 where the GBP/USD was sold again. After trading under pressure in the American morning, the USD woke up by the US lunch and the Forex market sent the pair down to 1.5330.

(Market News Provided by FXstreet)