GBP/USD prints fresh highs, eyes 1.5800

FXStreet (Córdoba) – GBP/USD broke above Thursday and Friday’s highs and climbed to 1.5788 hitting the strongest level in five days. The pair is trading near the highs, holding bullish tone for the session as the US dollar retreats sharply versus the euro, despite the ongoing Greek crisis.

GBP/USD breaks range

Since last Wednesday the pair was moving in a range with support above 1.5650 and resistance below 1.5760. Today at the beginning of the week, risk aversion boosted the US dollar and pushed the pair to trade at 1.5660. But then bounced modestly and recently managed to break a key short-term level and gained momentum.

To the upside the next resistance lies around 1.5800/05 (June 24 high) and then at 1.5850 (June 17 high). On the opposite direction support might now lie at 1.5760, followed y 1.5710 and 1.5660 (daily low).

GBP/USD broke above Thursday and Friday’s highs and climbed to 1.5788 hitting the strongest level in five days. The pair is trading near the highs, holding bullish tone for the session as the US dollar retreats sharply versus the euro, despite the ongoing Greek crisis.

(Market News Provided by FXstreet)