FXstreet.com (Córdoba) - The Pound is regaining the upside after rebounding at 1.6700. GBP/USD is back above 1.6730 and currently trades at 1.6740/43, 0.50% above today's opening price. The pair is rising for the fifth consecutive day accumulating an increase of more than 340 pips. The Sterling moved away from intra-day high that lies at 1.6843 which is also the highest price August 6.
James Hyerczyk, analyst at ForexHound.com, comments: Sentiment has shifted over the last couple of weeks to the long side of the GBP USD. Overnight the British Pound took out the October high at 1.6691 and now appears ready to challenge the July 2009 top at 1.7042.