GBP USD reinforced among extensive USD weakness
9/20/2016 9:00:45 AM
The GBP/USD pair expands its overnight merging mode into early Europe, keeping its range below the mid-point of 1.3050 levels.
Currently, GBP/USD trades 0.08% higher at 1.3040. The cable’s steady recovery path lost pace just shy of 1.3050 barrier, with the bulls now merging minor gains, before the next move lower.
The upside in the major appears restricted as higher treasury yields ahead of Fed’s interest rate decision, is probable to keep the USD supported.
The pair has an immediate persistence at 1.3090, above which 1.3140 would be tested. On the other hand, support is seen at 1.2990 below that at 1.2950.