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30 Jun 2014
GBP/USD jumps to multi-year highs at 1.7075
FXStreet (San Francisco) - The Sterling is extending its rally against the US Dollar and now it is pricing at highs since October 2008 at 1.7075.
The GBP/USD is completing 65-pip upside movement from the 1.7005 tested in the European morning to break 1.7050 area and reach the 1.7075 level. Currently, GBP/USD is trading at 1.7066, up 0.17% on the day, having posted a daily high at 1.7075 and low at 1.7009.
The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
GBP/USD sentiment
"Further upward momentum should see price approaching the 1.7100 figure, opening doors for a test of 1.7250 strong midterm resistance zone," comments Valeria Bednarik from FXStreet. She points or that both 1 and 4 hours chart are providing upside momentum.
The GBP/USD is completing 65-pip upside movement from the 1.7005 tested in the European morning to break 1.7050 area and reach the 1.7075 level. Currently, GBP/USD is trading at 1.7066, up 0.17% on the day, having posted a daily high at 1.7075 and low at 1.7009.
The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
GBP/USD sentiment
"Further upward momentum should see price approaching the 1.7100 figure, opening doors for a test of 1.7250 strong midterm resistance zone," comments Valeria Bednarik from FXStreet. She points or that both 1 and 4 hours chart are providing upside momentum.