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- Rally in the risk assets and the sell-off in the EUR/GBP pushed GBP/USD to session highs by 1.5588
- UK trade data released on Friday which showed a narrowing deficit also reflecting GBP strength today
- At the time of writing the pair is trading at 1.5538, resistance seen at 1.5610-27 above, supports lie at 1.5430 (200 DMA)
- Market focus shall be on the UK CPI data due for release tomorrow for cues on further direction
R1: 1.5610 (Daily High Jul 7)
R2: 1.5627 (Daily High Jul 6)
R3: 1.5630 (50% of 1.5930 - 1.5330)
Support Levels:
1.5470 (Hourly Low Jul 13)
1.5430 (200 DMA)
1.5379 (Daily Cloud Top)
