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GBP/USD jumps to test 1.6100

The Sterling continues with its advance versus the US Dollar amid general USD weakness. Currently, GBP/USD is trading at 1.6081, up 0.67% on the day, having posted a daily high at 1.6101 and low at 1.5954.

The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

GBP/USD sentiment

"The 1 hour chart shows price above a bullish 20 SMA and indicators aiming higher above their midlines, yet some further confirmation above current price zone is required to confirm a short term upward extension," comments Valeria Bednarik from FXStreet.

On the other hand, Bednarik says that "a retracement down to 1.6000 on the other hand, should keep the risk to the downside looking for a retest of 1.5950, past week low."

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