GBP USD trading in a narrow range
1/3/2017 9:42:09 AM
During the Fx market transactions the pound is showing suitable gains against the dollar on Tuesday, taking GBP/USD to the 1.2305 vicinity at the end of the Asian session.
Spot has achieved to settle session highs near 1.2315 during overnight trade, accelerating some pips soon later against a backdrop of quite a solid presentation by the USD.
Meanwhile, the pair keeps on to search for a clearer direction after finding good support around 1.2205 the figure during last week amongst unusual fickleness and usual conditions of year-end trading.
As of writing the pair is proceeding 0.20% at 1.2298 and a break above 1.2390 would open the door to 1.2417 and ultimately 1.2650. On the other hand, the immediate support line up at 1.2278 ahead of 1.2170 and then 1.2080.
FOREX Fundamental Analysis
Written by FxErvin