GBP USD found strong support
11/1/2016 8:26:21 AM
The GBP/USD pair is seen merging the upside nearly all over the Asian hours, having found solid support just below 10-DMA now placed at 1.2217.
The GBP/USD pair stays under slight bearish pressure as we head towards the early European morning, during a minor-rebound staged by the USD against its major peers as markets cheer Clinton taking a lead over her rival Trump in the election polls, with just a week remaining for the US presidential elections.
Though, the downside lefts dampened on the back of BOE Carney announcement over his future at the central bank, stating that he plans to serve an extra year as head of the British central bank, until mid-2019.
At 1.2180, the pair finds immediate persistence located at 1.2250, 1.2285 and 1.2380. While supports are aligned at 1.2206 and 1.2173 and below that at 1.2135.
Fundamental Analysis
by FxErvin
