US Dollar retreats despite upbeat US economic data, erases NFP gains. Cable breaks intraday range and rises above 1.3550 to 1-week highs. After trading hours sideways between 1.3305 and 1.3340, the GBP/USD broke to the upside and rose above 1.3550 hitting the highest level in a week. The pair peaked at 1.3358 and it was holding above 1.3550 with the bullish tone intact. Cable is rising for the third-day in-a-row and is about to post the best weekly results since early April. The pound extended gains versus the greenback during Friday’s American session, despite upbeat US economic data. Earlier today, it was the employment report and more recently the ISM Manufacturing that came in at 58.7 above the 58.1 expected; the price component of the index rose to 79.5 against estimates of a modest decline. The US dollar spiked after the data but then resumed the correction. The pound is among the top performers of the day. It also received support from the slide of EUR/GBP that broke below 0.8750. GBP/USD short-term levels If the pair extends its gains, resistance levels might be seen at 1.3375, 1.3410 and 1.3450. On the flip side, support could now be located at 1.3345 (May 31 high), 1.3305 (lower limit of recent trading range) and 1.3250/55 (Jun 1 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next IOTA price analysis: IOT/USD heads straight to the moon supported by Nordic Semiconductor and NTNU partnerships FX Street 5 years US Dollar retreats despite upbeat US economic data, erases NFP gains. Cable breaks intraday range and rises above 1.3550 to 1-week highs. After trading hours sideways between 1.3305 and 1.3340, the GBP/USD broke to the upside and rose above 1.3550 hitting the highest level in a week. The pair peaked at 1.3358 and it was holding above 1.3550 with the bullish tone intact. Cable is rising for the third-day in-a-row and is about to post the best weekly results since early April. The pound extended gains versus the greenback during Friday's American session, despite upbeat US economic data. Earlier… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
