FXstreet.com (Barcelona) - Cable has risen 0.70% from today's opening price at 1.4907 to reach a new 3-months high at 1.5036. It is the first time GBP/USD is above 1.5000 level since January 12. Currently, the pair is trading around 1.5000/1.5010.
The Swiss e Trade Strategy Team says, about the GBP/USD: Cable tried another attack on the 1.4950 resistance line in early European trading, and is currently priced at 1.4930. We doubt the 1.4950 mark will be substantially broken in today's trading, anticipating a see-saw market between that level and 1.4850 on the downside.
EUR/GBP has fallen 0.70% from today's opening price at 0.8902 to reach 0.8832, one month low.
According to Valeria Bendarik, FXstreet.com collaborator, GBP strength is making EUR/GBP tumble to a fresh 6 week-low. The pair has just tested the base of a descendant 4 hours channel, around 0.8830, and looks quite oversold in the mentioned time frame, yet with no technical signs of reversal underway. Break under mentioned point will find next supports at 0.8800 and 0.8762, both maximum and minimum congestion zones. Above 0.8853 the pair can return to 0.8800, yet the upside seems limited, as long as Pound keeps actual strength
Valeria concludes about Cable: Against dollar, GBP reached the 1.5036, and continues tending higher. Mayor resistances lie at 1.5090 and 1.5123, while only under 1.4950 the pair could correct further down to the 1.4920 zone.
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