Trading signals

GBP/USD

GBPUSD

The pound not only stabilized after disappointing UK data, but managed to print fresh highs. Still, the speculations about a BOE rate cut are limiting the pounds' advance.

 

The main scenario assumes a move towards 1.3110. 

An alternative scenario is a bounce off the 1.3080 resistance. 

 

Trading recommendations

 

We expect to see renewed bullish pressure and a move through 1.3080 towards 1.3110.

After a close below 1.3070 we could see GBP/USD extend its decline down to 1.3020.

 

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