From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
14 Feb 2020
GBP/USD: Upsurge testing major resistance
The GBP/USD pair rallied around 125 pips intraday in reaction to the latest UK political developments and jumped to over one-week tops, around the 1.3070 region on Thursday. Haresh Menghani from FXStreet sees a fresh trigger for bullish traders.
Key quotes
“The cable now seems to have entered a bullish consolidation phase and was seen oscillating in a narrow trading band through the Asian session on Friday.”
“The overnight upsurge stalled near 50-day SMA hurdle. Some follow-through buying above the mentioned barrier might be seen as a fresh trigger for bullish traders and set the stage for a possible move beyond the 1.3100 round-figure mark, towards testing its next major hurdle near the 1.3145-50 region.”