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Forex: GBP/USD remains in highs around 1.5200

The renewed buying interest surrounding the sterling is driving the cross higher, hovering over the area around 1.5190/5200, on its way to test weekly highs around 1.5220

G.Yu and G.Berry, Strategists at UBS, remain bearish on the cross, arguing, “Bearish trend conditions persist and any upside must be limited. Resistance is at 1.5219 ahead of 1.5321. Support is at 1.5073 ahead of 1.4949”.

As of writing, GBP/USD is advancing 0.23% at 1.5195 with the immediate resistance at 1.5214 (high Feb.28) ahead of 1.5219 (high Feb.26) and finally 1.5272 (MA10d).
On the flip side, a breakdown of 1.5100 (psychological level) would increase the decline to 1.5080 (low Feb.27) and 1.5073 (low Feb.25).

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