The pound remained in the upward channel on Thursday. A fresh buying interest emerged in the mid-European session and helped the major to overcome 1.2900.
The selling pressure significantly increased yesterday. Sellers were able to move the pound out of the ascending channel.
The bullish market structure remained in place on Monday.
The pound was stronger than the US dollar on Friday.
The demand for the pound remained unabated on Thursday.
The pound remained well bid yesterday.
The pound failed to build a recovery beyond the level 1.2800.
Despite the US dollar weakness the pound did not show significant progress.
The US dollar remained in the red despite the positive Fundamental issues.
