Dollar broad weakness has helped the GBP/USD advance this Friday, with the pair reaching a daily high of 1.5145, so far today. Trading at a 1 month high, there was no fundamental data in the UK to affect the Pound. Later on in the day, the US will release its Durable Goods Orders for March, expected to pick up after the horrid figures from February.
The 4 hours chart shows that the price holds near the mentioned high, whilst the 20 SMA accelerated higher well below the current level. In the same chart, the Momentum indicator heads higher above its 100 level, whilst the RSI indicator is losing upward strength around 72, still far from signaling a retracement. The immediate resistance comes at 1.5165, last March 18 daily high, with a break above it favoring additional gains up to the 1.5200 level.
Deeps down to 1.5090 should attract buying interest, although a downward acceleration below the level should lead to a downward corrective movement down to the 1.5030/40 price zone.
View live chart of the GBP/USD
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