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GBP/USD breaks above 1.5600

FXstreet.com (Córdoba) - The GBP/USD broke the top of its recent range and extended gains to fresh 2-month highs as the US dollar resumed its decline during the American afternoon.

GBP/USD reaches fresh 2-month high

GBP/USD rose over 70 pips in a matter of minutes and peaked at 1.5646, with no clear catalyst other that a broader weaker dollar and stops orders triggered. At time of writing, GBP/USD is trading at the 1.5615 area, where it records a 0.8% gain on Thursday.

GBP/USD technical levels

In terms of technical levels, next resistances for GBP/USD could be faced at 1.5646 (daily high) and 1.5675 (Jun 19 high), while supports are seen at 1.5520 (200-day SMA) and 1.5500 (psychological level).

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USD/CAD collapses to 1.0300

The USD/CAD has extended its decline from intra-day high at 1.0365 to test the 1.0300 region again after a suddenly movement who drove the USD down across the market.
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