GBP/USD vaults higher
GBP/USD has spiked higher during the London open. The pair added +0.11% following an overnight move where it posted a low of $1.5501, after recording a high of $1.5548 despite a weakening in UK housing prices, according to the Nationwide housing survey, released on Tuesday.
Despite the sharp spike higher on Tuesday, the move wasn’t enough to see the pair’s relative strength index indicator move into expansionary territory. It is currently trading at 49.3, which suggests a possible retest of downside targets with intermediate resistance likely to be seen at $1.5472.