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13 Sep 2013
GBP/USD reaches fresh multi-month highs before weekly close
FXstreet.com (San Francisco) - The GBP/USD continued with its advance during the American session and after rallying 110 pips in the day from 1.5775, the cable reached fresh highest level since January 23 at 1.5885.
The GBP/USD is closing its second positive week in a row and the sixth since the beginning of July while the Cable has completed a 1000 pips bullish movement in just 2 months.
GBP/USD bias
Currently the Sterling is trading in consolidation mode around 1.5875 against the US Dollar, posting 0.43% daily gains. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15 minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 1.5885, next resistances are at 1.5900 and 1.6000. On the down side, supports are at 1.5870, 1.5840 and 1.5775.
The GBP/USD is closing its second positive week in a row and the sixth since the beginning of July while the Cable has completed a 1000 pips bullish movement in just 2 months.
GBP/USD bias
Currently the Sterling is trading in consolidation mode around 1.5875 against the US Dollar, posting 0.43% daily gains. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 15 minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 1.5885, next resistances are at 1.5900 and 1.6000. On the down side, supports are at 1.5870, 1.5840 and 1.5775.