Trading signals

GBP/USD

GBPUSD

Better-than-expected Construction PMI helped the pound to conquer fresh peaks. Besides, the gap between Conservatives and Labor widened to 12 points which became additional supporting factor for the Cable.

 

The main scenario is a continued ride towards 1.3080.

An alternative scenario assumes a decline to the 1.2900 region. 

 

Trading recommendations

 

If bulls can break the 1.3010 resistance, the market is set to climb towards the 1.3080 level.

Sell the pound to 1.2900 if you see a move through 1.2960.

 

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