Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/USD Trade Idea

GBPUSD was trading lower and lost more than 50 pips after weaker than expected UK CPI data. UK CPI came at 2.6% YOY compared to forecast of 2.4%. Markets eye EU Brexit summit today for further direction. The pair hits low of 1.31240 and is currently trading around 1.3129.

 

On the higher side, near term resistance is around 1.3230 and any break above targets 1.32578/1.3300. it should break above 1.3300 for further upside. The near term minor resistance is around 1.3175/1.3215.

 

The near term support is around 1.30963 (100- day MA) and any convincing break below targets 1.3030/1.3000.

 

It is good to sell on rallies around 1.3175-80 with SL around 1.3235 for the TP of 1.3000.

 

Resistance

 

R1- 1.3175
 

R2 - 1.3235

R3- 1.3300


Support               

 

S1- 1.3096


S2- 1.3030

 

S3- 1.3000

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.