GBP USD moving back to low
1/18/2017 3:34:08 PM
According to yesterday’s trading in forex market, the pound is giving way part of its gains and is now pushing GBP/USD back to the 1.2325 area, or daily lows.
Spot is surrendering some of yesterday’s remarkable advance to fresh 2-week tops above the 1.2405 handle amongst quite a modest recovery of the USD.
GBP rising from daily lows near 1.2038 to the area just above 1.2405 the figure improved by higher than anticipated inflation figures in the UK during December.
As of writing the pair is withdrawing 0.49% at 1.2653 and a break below 1.2259 would aim for 1.2046 and ultimately 1.1982. On the other hand, the next persistence line up at 1.2410 ahead of 1.2442 and ultimately 1.2562.
FOREX Fundamental Analysis
Written by FxErvin