The dollar continued to rise against major currencies after reaching a two-month high. The rise in the US currency was provoked by US Federal Reserve officials, who surprised the markets by predicting an increase in interest rates sooner than expected.
For the GBP / USD pair, the momentum in the dollar rise is huge. The price came out of the consolidation, in which it was more than a month.
A drop below 1.3900 signals an additional boost as the break of the 100-day moving average is significant.
The cross is currently trading around 1.3880 levels, testing support levels around 1.3850. In case of breaking down, the next support is the zone around 1.3850
If the strength of the dollar continues, sellers can look to the daily low of March and April around 1.3670.
GBP / USD Chart:
Junior Trader Nikolay Nankov