Trading signals

GBP/USD

GBPUSD

The pound moved higher when the latest polls indicated that the Conservatives are still leading the way. Still, the upside was limited by the US dollar's growth which strengthened amid the US Treasury bond yields pickup and US-China trade deal optimism.

 

The main scenario assumes a further recovery towards 1.2940.

An alternative scenario assumes a growth of negative sentiments and a return to the 1.2850-1.2840 area. 

 

Trading recommendations

 

If the pound overcomes 1.2910 we will long to 1.2940.

Sustained break below the 1.2880 region will confirm bearish resumption towards 1.2850-1.2840 area.