GBP/USD jumps above 1.3400 as USD tumbles

 A sharp decline of the US dollar across the board pushed GBP/USD further to the upside. A weak reading of the US ISM Non-manufacturing triggered the decline of the dollar. The activity index showed a reading of 51.4 for August, below the expectation of 55.7.

GBP/USD at highest since mid-July

The pair climbed almost a hundred pips during the last tow hours. Recently it peaked at 1.3436, level last seen back in July 18. Price remains near the highs above 1.3420, holding a bullish tone as the US dollar continue to decline in the currency market.

The pound is rising against the US dollar for the fifth day in a row and if it ends around current levels or higher it would post the strongest daily close since June and above the key resistance area located around 1.3350, that capped the upside during the previous months.