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1 Jul 2014
GBP/USD extends its advance and trades above 1.7150
FXStreet (San Francisco) - The Sterling is posting further gains against the US Dollar as the latest June manufacturing PMI in UK beat expectations. The GBP/USD is now testing the 1.7150 level and posting a multi-year high of 1.7157.
Currently, GBP/USD is trading at 1.7151, up 0.26% on the day, having posted a daily high at 1.7157 and low at 1.7096. GBP/USD spot is in extremely overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
"Burst through the 1.7125 barrier on the back of stronger June manufacturing PMI (57.50 versus forecast 56.80) en route to a session high of 1.7147," Matt Bacon-Hall comments on GBP/USD. "Sellers still lurk ahead of the 1.7150 barrier, with buy stops above. To the downside, buyers are noted 1.7100-10."
Currently, GBP/USD is trading at 1.7151, up 0.26% on the day, having posted a daily high at 1.7157 and low at 1.7096. GBP/USD spot is in extremely overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
GBP/USD sentiment
"Burst through the 1.7125 barrier on the back of stronger June manufacturing PMI (57.50 versus forecast 56.80) en route to a session high of 1.7147," Matt Bacon-Hall comments on GBP/USD. "Sellers still lurk ahead of the 1.7150 barrier, with buy stops above. To the downside, buyers are noted 1.7100-10."