GBP USD Moving to a slim trading range
9/4/2017 6:12:51 PM
The pound is trading nearly unmoved, taking GBP/USD to a slim trading range in the mid-1.2910s.
Following a test of the locality of the key barrier at 1.3005 the figure post-payrolls on Friday, fresh sellers along with a recovery of the dollar forced Cable to retrace some ground and is now looking to steady in the 1.2953 area.
As mentioned above the pair is up 0.04% at 1.2956 and a break above 1.2998 would pave the wave for a test of 1.3033 and then 1.3165. On the other hand, the next down barrier arises at 1.2918 supported by 1.2890 and ultimately 1.2847.
FOREX market analysis by FxErvin.