GBP USD Took a new bid tone in Forex market
8/25/2017 2:17:10 PM
The GBP/USD pair took a new bid tone, now trying to spread the break upper near the key persistence placed near 1.2838 levels.
From a technical viewpoint, the pair's recovery move was limited at a previous support, now turned persistence, marked by 38.3% Fibonacci retracement level of 1.2111-1.3271 up-move. Therefore, it would cautious to wait for a constant move beyond the mentioned hurdle before positioning for any further near-term recovery.
FOREX market analysis by FxErvin.