GBPUSD jumps towards resistance area

GBPUSD jumped towards key resistance area as the US dollar suddenly sank against major currencies in the afternoon European time. As some pointed out, this could have resulted from fixing flows as there was no major FX headlines this afternoon. Such move would be possible amid today’s thin volume (US and UK traders are off work). Interestingly, GBPUSD was halted at 1.42174 - one could notice on the chart that this area limited three upward impulses earlier this May. The currency pair has erased some gaines since then, but remains very close to the mentioned threshold that has served as an important resistance.

GBPUSD, H1 interval. Source: xStation5