Trading signals

GBP/USD

GBPUSD

In absence of any fresh UK political headlines traders turned their attention to Fed minutes which failed to provide any support for the dollar. As a result, the pound recovered some ground. 

 

The main scenario is a break above 1.2940 and a new leg higher afterwards. 

An alternative scenario is a return to the 1.2850 level.

 

Trading recommendations

 

A further extension to 1.3010 will be possible when the pound overcomes 1.2940.

A close below1.2900 will generate fresh bearish signal to 1.2850.

 

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