Forex: GBP/USD rises to test 1.6200

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Forex: GBP/USD rises to test 1.6200

FITITOL--> FXstreet.com (San Francisco) - The Pound today's rally against the Dollar has continued during the American morning with the Cable extending gains from 1.6113 reached in the Asian session to break up the 1.6150 level and test 1.6200 zone.

Currently the pair is pricing at 1.6192, 0.35% above opening price action. FXstreet.com Technical Studies shows a "Slightly Bullish" and "Extremely Oversold" pair.

"A move above this area and the trendline coming down from the top at the 1.6162 level should increase the buying interest with the 100 hour MA (blue line in the chart above ) at the 1.6182 level, the next key target for the pair," comments Greg Michalowski from ForexLive.com.