Trading signals

GBP/USD

GBPUSD

The news that the Labour party decided to back elections in December helped the pound to reverse some losses. The Cable also pulled back after a weak US Consumer Confidence data.

 

The main scenario is a further upside to 1.2980. 

An alternative scenario assumes a change of the market sentiment and a drop to the 1.2760 handle.

 

Trading recommendations

 

A cut through 1.2860 will turn attention to the 1.2980 area.

You can sell the pound to 1.2760 when it returns below 1.2850.