Back
25 Feb 2015
GBP/USD find sellers at 1.5530; but bias remains bullish
FXStreet (San Francisco) - After rising 50 pips from 1.5480 in the American afternoon, the GBP/USD found sellers at 1.5530 just ahead of Wednesday's highs of 1.5540. The Sterling is now pricing at 1.5520 against the US Dollar.
Currently, GBP/USD is trading at 1.5522. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
The dollar is trading under pressure on the back of Yellen's two days remarks as markets are now concluding that there will be no hike in June.
According to FXStreet chief analyst Valeria Bednarik, "renewed buying interest above 1.5535 should lead to a retest of this year high of 1.5582, while a break above this last exposes the 1.5660 price zone, as next main bullish target."
Above 1.5540, the GBP/USD will find resistances at 1.5560, 1.5580 and 1.5620. Supports are now at 1.5500, 1.5480 and 1.5460.
Currently, GBP/USD is trading at 1.5522. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
The dollar is trading under pressure on the back of Yellen's two days remarks as markets are now concluding that there will be no hike in June.
According to FXStreet chief analyst Valeria Bednarik, "renewed buying interest above 1.5535 should lead to a retest of this year high of 1.5582, while a break above this last exposes the 1.5660 price zone, as next main bullish target."
Above 1.5540, the GBP/USD will find resistances at 1.5560, 1.5580 and 1.5620. Supports are now at 1.5500, 1.5480 and 1.5460.