GBP/USD (a 4-hour chart of which is shown) as of Friday (8/06/2010) morning, has reached all the way up to approach key psychological resistance in the 1.6000 price region on the heels of the non-farm payrolls (NFP) report, establishing a new 6-month high for the pair. This occurs within the context of a strong overall uptrend extending back to the May lows. For more GBP/USD technical analysis, please click here.

James Chen, CTA, CMT