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  • The Sterling is extending its climb against the Greenback as falling Treasury yields knock the USD back.
  • Thin session for Friday puts extra focus on the upcoming US Markit PMIs  to cap off the week.
  • Hourly indicators are knocking into overbought territory, a turnaround from here could see a sharp snap lower.

GBP/USD Chart, 1-Hour

Spot rate:   1.3268
Relative change:   0.28%
High:   1.3282
Low:   1.3229
   
Trend:   Bullish
   
Support 1:   1.3229 (current day low)
Support 2:   1.3205 (PP daily pivot)
Support 3:   1.3102 (current week low; key level)
   
Resistance 1:   1.3298 (June 15th swing high; key level)
Resistance 2:   1.3375 (R2 daily pivot)
Resistance 3:   1.3446 (two-week high)