GBP/USD Climbs Again To 15 Month Highs!

<p>&nbsp;The price chart of the GBP/USD currency pair broke the latest record high again today as it continued its surge in the Asian session.</p><p><br /></p><p>Supporting the strengthening of the Pound since the opening of the European session yesterday was the average wage index in the UK which recorded an encouraging increase in the employment report published yesterday.</p><p><br /></p><p>However, the factors seen limit the strengthening of the Pound when the unemployment rate recorded a jump to 4.0% compared to the forecast to remain at 3.8% the previous month.</p><p><br /></p><p>While the US dollar remained weak until yesterday's New York session ahead of the release of the United States (US) inflation data today, the Pound took advantage of the space to also hunt for the latest record high.</p><p><br /></p><p>After the US consumer inflation data tonight, the US producer inflation data along with the UK economic growth data tomorrow will be the focus that will influence the movement of the GBP/USD chart.</p><p><br /></p><p>After the price increase managed to pass the 1.29000 level yesterday, the price reached a new high at around 1.29300.</p><p><br /></p><p>The gains continued further as trading continued in the Asian session this morning reaching the 1.29700 level for a new 15-month high.</p><p><br /></p><p><br /></p><p>The bullish pattern is expected to be maintained until the price touches the target level at 1.30000 before a price reaction around that will be observed.</p><p><br /></p><p>If the rise continues, the price will continue to record the latest high.</p><p><br /></p><p>However, if the price plunges again, it is likely that the price will return to the 1.29000 level that was breached yesterday.</p><p><br /></p><p>A further drop below that level would signal the beginning of a bearish trend that could push the price down to around the 1.28400 zone which was previously a resistance in June trading.</p>