The Sterling has finally broken the 1.7000 key resistance against the Dollar after rising ar
ound 90 pips in the last hour from 1.6960 to post fresh 9-month highs.GBP/USD has jumped above the 1.7000 key resistance after several attempts since the yesterday opening. Pair has risen around 90 pips from 1.6960 to post 1.7045 as fresh highest level since last October 21.
Currently the pair is trading around 1.7035/45, 0.50% above today's opening price action.
According to Carol Harmer, technical analyst at Charmer Charts, the Pound could break above 1.7000 heading to 1.72: "Now today the market does remain looking as though it could trade higher back to 1.7005. Here will be quite crucial. The sellers failing to hold off buyers will see this then trade higher with 1.72 targeted. 1.72 is the measured target from the continuation pattern we experienced all through June and July."
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