GBP USD withdrawals from low
2/8/2017 4:53:51 PM
The sterling is trading nearly unmoved against the greenback on Wednesday, provoking GBP/USD to stay within the current sideline theme around 1.2490.
After rising to new tops in the mid-1.2505s on Tuesday, the pair met some selling pressure and has now retreated towards the 1.2505 area ahead of the opening bell in the Old Continent.
As mentioned above the pair is up 0.021% at 1.2515 and a breakout of 1.2551 would open the door to 1.2683 and 1.2717 and then 1.2777. On the other hand, the immediate support line up at 1.2450 followed by 1.2430 and ultimately 1.2345.
FOREX market analysis by FxErvin.