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Forex pairs in this Article » GBP/USD (Edinburgh) -The sterling is now accelerating its intraday upside on Monday, lifting the GBP/USD to the vicinity of 1.5340 as risk-on trade is sharpening.

GBP/USD in 4-week highs

The pair finally managed to leave behind the key resistance at 1.5300 at the beginning of the week, with no much to say regarding resistances on its way to June peaks above 1.5700 the figure. “The MPC is keeping its options open but we still expect no further gilt purchases. Instead, the BoE will probably adopt forward guidance next month and use other tools to add stimulus should the recovery stall. If it were to go down that path UK and US policy would diverge and that would be negative for the GBP”, commented David Gloom, Global Head of FX Research at HSBC.

GBP/USD key levels

At the moment, the pair is advancing 0.43% at 1.5336 and a break above 1.5346 9high Jun.27) would open the door to 1.5394 (61.8% of 1.5753-1.4814) and then 1.5442 (high Jun.26). On the flip side, support levels align at 1.5258 (low Jul.22) followed by 1.5199 (low Jul.19) and finally 1.5158 (low Jul.18).
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