GBP USD Trading News in Forex market
9/7/2017 2:21:05 PM
According to Forex market, GBP/USD’s effort to test 1.3103 handle failed near 1.3087 area, and from there the prices reversed suddenly to now trade modestly flat near the mid-point of 1.3003 handle.
The spot expands its overnight side-presses into early Europe, merging the latest down move from five-week highs of 1.3087 to NY lows of 1.3031.
Technically, the pair appears stabilizes to expand its near-term upward path towards reclaiming the 1.3105 handle, on the way 1.3133 persistence area. A follow over buying interest has the potential to continue boosting the pair even beyond the 1.3207 handle towards early August daily closing highs persistence near the 1.3223-28 area.
On the other hand, any pull-back below 1.3028-45 area might now find some fresh buying interest near the key 1.3011 psychological mark and hence, is more probable to bind any additional weakness near 45-day EMA support near the 1.2984-76 area.
FOREX market analysis by FxErvin.