FXstreet.com (Córdoba) - The rise in stocks is sending the Dollar lower across the board. GBP/USD jumped from 1.6305 to test a key resistance zone at 1.6400. Above the mention level, the next resistance lies at 1.6470 (Sept 23 high).
Currently the pair trades at 1.6401/05, 0.50% above today's opening price at intra-day highs. Cable is rising for the fifth consecutive day against the Dollar.
The ecPulse.com analysis team affirms: The sterling-dollar pair showed an incline on the daily chart, but on the 4-hour and 1-hour charts, the pair declined. The pound continued its rise for the fifth day on previous speculations the BoE will suspend stimulus on signs of recovery.