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Forex: GBP/USD extends advance and tests 1.5590

FXstreet.com (San Francisco) - The Sterling is trading higher today against the Greenback and after jumping 70 pips in the latest couple of hours from 1.5520, the GBP/USD has risen to break above the 1.5545 resistance and to test the highest level since May 5th at 1.5590.

Currently, the GBP/USD is 0.64% positive on the day and the pair is slightly bullish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish in the 15-minute timeframe.

Above the 1.5590, the next and the most important resistance is the 1.5600, several time tested in the past days. On the downside, supports are at 1.5565, 1.5520 and 1.5470.

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