19, May 2017

GBP/USD

Current situation

The undertone for the pound was clearly positive on Thursday. The major was flat in the night and became active in the morning. GBP/USD made an upward move towards 1.3000 and broke the resistance immediately after testing the level. The pound continued its rally afterwards advancing towards 1.3100. The resistance lies at 1.3100, the support comes in at 1.3000.

Trading recommendations

A consolidation above 1.3000 may spark a further growth towards 1.3100