Currency Analyst since 2010

GBP/USD is around $1.5950

GBP/USD has also opened with a 60-pips gap up and is now fighting with resistance at $1.5950. US dollar weakened as the Fed’s Vice Chairman Janet Yellen who’s known as a QE supporter became the leading candidate for the central bank’s top chair and Syrian risk diminished.

Pound rose to the highest level since January. There’s nothing on the UK agenda today, to pound’s direction will depend on the risk sentiment and US data later today (Empire State manufacturing index at 12:30 GMT and industrial production at 13:15 GMT).

Further resistance lies at $1.5980, $1.6000 (psychological level) and $1.6035. Support is at $1.5870, $1.5830 and $1.5760/50.

Chart. Daily GBP/USD

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