• Rally in the risk assets and the sell-off in the EUR/GBP pushed GBP/USD to session highs by 1.5588
  
  
• UK trade data released on Friday which showed a narrowing deficit also reflecting GBP strength today
  
  
• At the time of writing the pair is trading at 1.5538, resistance seen at 1.5610-27 above, supports lie at 1.5430 (200 DMA)   
  
  
• Market focus shall be on the UK CPI data due for release tomorrow for cues on further direction

Resistance Levels:

R1: 1.5610 (Daily High Jul 7)

R2: 1.5627 (Daily High Jul 6)

R3: 1.5630 (50% of 1.5930 - 1.5330)

Support Levels:

1.5470 (Hourly Low Jul 13)  

1.5430 (200 DMA)

1.5379 (Daily Cloud Top)