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GBP/USD breaks above the 1.5250 level

FXstreet.com (San Francisco) - The Sterling is extending its advance against the Greenback with the pair rising 30 pips in the last hour to break above 1.5250 and test intra-day highs around 1.5265.

The GBP/USD is currently trading at 1.5260, 0.45% positive on the day. The short term perspective remains slightly bullish according to the FXstreet,.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.

Next resistance is at 1.5282 (high May 17) and finally 1.5323 (high May 16). On the flip side, a breach of 1.5158 (low May 17) would expose 1.5128 (61.8% of 1.4832-1.5607) and then 1.5034 (low Apr.4).

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