GBP USD Trading News 1
11/17/2016 10:37:55 AM
The bearish hold on the GBP released a bit in the mid-Asian trades, provoking a tepid-recovery in GBP/USD from ahead of 1.2410 handle.
The major is seen recovering losses and now looks to regain 1.2450 barrier, among current decline in the global yields, mostly treasury yields, which keeps the demand for superseded higher yield ding currency GBP intact. In the meantime, the cable is last seen exchanging hands at 1.2425, recovering from 1.2415 session lows, still down 0.17% on the day.
At 1.2420, the pair finds immediate persistence located at 1.2510, 1.2530 and 1.2550. While supports are aligned at 1.2410 and 1.2390 and below that at 1.2350.