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GBP/USD bounces from 7-week low

FXstreet.com (Córdoba) - The US dollar weakened across the board and it is receding ground versus most competitors, with no clear catalyst behind the drop.

GBP/USD rebounded sharply from a 7-week low of 1.5110 and rose back to the 1.5175 area before losing momentum. At time of writing, GBP/USD is trading around 1.5170, still down 0.5% on the day.

On the upside, the 20-hour SMA at 1.5210 should offer immediate resistance, followed by 1.5280 (high May 20). On the downside, supports are seen at 1.5110 (daily low), followed by 1.5100 (psychological level) and 1.5075 (low Apr 3).

EUR/USD advances to 1.2920

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AUD/USD jumps to 0.9815

The AUD/USD is currently trading higher after bouncing at the 0.9750 support. The pair rose 65 pips in the latest few minutes to break above the 0.9800 and test 0.9815.
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