GBP/USD soared and broke above the 1.6120 resistance zone, reaching at 1.6173, a 3-week high. The pair remains trading near the highs extending its rally that started during Wednesday’s American session following Ben Bernanke opening statement.
“Technical studies indicate that support levels are located at 1.5948/06 and then at the 21Day Lower Bollinger Level at 1.5873,” said the Talking-Forex analysis team. According to them resistance levels are noted at the 100-DMA line at 1.6250, 1.6263 and then at 1.6283.
The Dollar weakened in the market recently after Moody's put US Aaa Rating on a review for a possible downgrade.
From Tuesday’s lows GBP/USD has risen almost 400 pips and posted on Wednesday the biggest daily gain since late February.
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