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GBP/USD attacks 1.6150 again; 1.6185 next frontier

FXStreet (San Francisco) - After a brief rejection from the 11-day high at 1.6153, the GBP/USD is reassuming its upside move from 1.6080 as the pair is now retesting the 1.6150 level again.

The move is being fueled by a weak dollar trade in the European session. Ahead of the American opening, GBP/USD is trading at 1.6139, up 0.29% on the day, having posted a daily high at 1.6153 and low at 1.6080.

GBP/USD sentiment

“The GBP/USD trades at its daily high after finally breaching above 1.6125, level that contained the upside for most of these last 2 weeks,” comments Valeria Bednarik from FXStreet. “The upside is favored with 1.6185 as next target once the daily high gives up.”

If the pair manages to break above 1.6150, next resistances are at 1.6155 (21-d MA) followed by 1.6200 (50% of 1.6525-1.5875) and Oct. 09 high at 1.6225.

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