Pound hits fresh highs versus USD and also against ERU and CHF. GBP/USD turns positive for the week, but losses strength near 1.2400. The GBP/USD pair rose further and extended gains. It printed a fresh daily high at 1.2392, the highest level since Friday. The pair trades at 1.2370, up almost 80 pips for the day, holding firm to recent gains despite moving off highs. The move higher was triggered by a stronger pound and also after the DXY turned negative for the day, after making a reversal. The greenback retreated despite US economic data and as equity prices approached the recent daily top. Not even higher US yields contributed to limit the upside in GBP/USD. Chairman Powell and Treasury Secretary Mnuchin will speak about how to recover the economy at a House Financial Services Committee hearing. The pound gained momentum during the American session on the back of end-of-month flows and amid some improvement in risk appetite. It managed to print fresh highs versus the euro and the Swiss franc unaffected by the latest Brexit headlines that showed EU negotiator Barnier rejected the latest proposal from the UK for financial firms in doing business with the block. From a technical perspective, the bounce from near 1.2250 in GBP/USD alleviated the bearish pressure, but still, the bias is negative. If the pair manages to stay firm above 1.2350 the greenback will lose momentum. Above 1.2405 the par will likely rise further toward 1.2450. Technical levels 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 Canada: GDP to shrink 40.0% in annualized terms in Q2 – NFB FX Street 2 years Pound hits fresh highs versus USD and also against ERU and CHF. GBP/USD turns positive for the week, but losses strength near 1.2400. The GBP/USD pair rose further and extended gains. It printed a fresh daily high at 1.2392, the highest level since Friday. The pair trades at 1.2370, up almost 80 pips for the day, holding firm to recent gains despite moving off highs. The move higher was triggered by a stronger pound and also after the DXY turned negative for the day, after making a reversal. The greenback retreated despite US economic data and as equity prices approached… 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.
