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GBP/USD holds break above 1.2110

Yesterday the GBP/USD was the best performing major currency for a good deal of the session and that saw rebound gains, not just against the dollar, but also versus the Euro and the Yen. The move to as high as 1.2177 in the GBP/USD came after the pound rose above 1.2110 and it was noted here beforehand that an extension through that level could deliver more upside. The GBP/USD later gave back a good deal of those gains, but that 1.2110 level capped the relapse and it closed in the US at 1.2135. It has pushed a little higher so far today, from an earlier session low at 1.2131. The high seen so far has been set at 1.2163 and it remains to be seen if this current recovery can extend some more. All the time that 1.2110 remains intact on the downside, the odds would seem favourable. The GBP/USD is just now trading at 1.2160
 

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