GBP/USD: Bulls are testing the area around 1.2860 – Scotiabank
Source Fxstreet
The Pound Sterling (GBP) is unchanged on the session, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
GBP needs to extend above 1.2890 to gain momentum
“There were no UK data reports today and the pound has been left idling in a range in the mid-1.28s against the USD in very quiet trade.”
“Cable’s steady drift from the July 17th peak at 1.3044 is showing signs of reversing. A bullish daily close for the GBP yesterday supports the idea that the GBP has run its course for now.”
“Spot is testing trend resistance off the mid-July high at 1.2860 this morning but the GBP may need to extend above 1.2890 to really gain momentum intraday. Support should be firm now on dips to the low 1.28s.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
TradingKey - Bitcoin prices continue to surge toward $82,000; however, will MicroStrategy's sell signal trigger a Bitcoin price crash?On May 6, although the largest Bitcoin holder, MicroStrategy ( MST
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $97.50 during the early Asian trading hours on Wednesday. The WTI price falls amid easing tensions in the Middle East.
West Texas Intermediate (WTI) trades around $101.10 on Tuesday, down 1.26% at the time of writing, after posting strong gains the previous day amid escalating geopolitical tensions in the Middle East.
Crypto Overview: Toncoin, Terra Classic rise by double digits as Bitcoin grips $80,000Bitcoin (BTC) rises above $80,000 at press time on Tuesday, triggering a broader market recovery despite the US-Iran ceasefire at risk as tensions resurface. Toncoin (TON) and Terra Classic (LUNC) are leading the market recovery with double-digit gains over the last 24 hours.
Bitcoin (BTC) rises above $80,000 at press time on Tuesday, triggering a broader market recovery despite the US-Iran ceasefire at risk as tensions resurface. Toncoin (TON) and Terra Classic (LUNC) are leading the market recovery with double-digit gains over the last 24 hours.
AUD/USD extends its losses for the second successive day, trading around 0.7160 during the Asian hours on Tuesday. Traders expect the Reserve Bank of Australia (RBA) to deliver an interest rate hike later in the day.
Related Instrument
