21, April 2017

GBP/USD

Current situation

Buyers managed to defend 1.2800. The spot just tested the level and reversed its direction. The GBP/USD regained traction on Thursday climbing to session highs. The pound left the 1.2800 level in the European morning and reached 1.2850 at noon. The resistance lies at 1.2900, the support comes in at 1.2800.

Trading recommendations

A move above 1.2850 would indicate that immediate downward pressure eased. A move towards 1.2900 is on the cards now.