FXStreet (Orlando) – After trading in consolidation mode around 1.5500 in the American morning, the GBP/USD is finally advancing towards further daily highs above 1.5520.

The GBP/USD is recovering ground after retracing 125 pips from June highs at 1.5555, reached Wednesday, to Thursday lows at 1.5420. After testing the 1.5500 level several times today, the GBP/USD is finally accelerating towards new highs.

Currently, GBP/USD is trading at 1.5524, down 0.04% on the day, having posted a daily high at 1.5532 and low at 1.5422. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

GBP/USD levels

If the pair extends gains above 1.5520, the GBP/USD will find resistances at 1.5540, 1.5550 and then 1.5600. The downside, supports are at 1.5500, 1.5480 and 1.5430.

After trading in consolidation mode around 1.5500 in the American morning, the GBP/USD is finally advancing towards further daily highs above 1.5520.

(Market News Provided by FXstreet)

By FXOpen