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Trading news
23 Apr 2015
GBP/USD: How far can it go?
FXStreet (Guatemala) - GBP/USD is currently trading at 1.5060 with a high of 1.5071 and a low of 1.4958.
GBP/USD is up on the 1.50 handle and is up to test yesterday's highs yet again, but ahead of the elections coming up in next couple of weeks, markets are likely to become nervous around the events and this could pressure the pound meaning that bulls may look to take profit and this will limit scope for progressing on to 1.5100, 1.5200 or towards 2015 highs through 1.5545.
However, technically, the current move, as expressed by analyst at the UOB Group, is likely the resumption of the bullish phase and is expected to extend higher to the major resistance at 1.5155 in the coming days. "The trailing stop-loss has moved higher to 1.4900 from 1.4820 previously. On a shorter-term note, 1.4960 is already a strong support."
GBP/USD is up on the 1.50 handle and is up to test yesterday's highs yet again, but ahead of the elections coming up in next couple of weeks, markets are likely to become nervous around the events and this could pressure the pound meaning that bulls may look to take profit and this will limit scope for progressing on to 1.5100, 1.5200 or towards 2015 highs through 1.5545.
However, technically, the current move, as expressed by analyst at the UOB Group, is likely the resumption of the bullish phase and is expected to extend higher to the major resistance at 1.5155 in the coming days. "The trailing stop-loss has moved higher to 1.4900 from 1.4820 previously. On a shorter-term note, 1.4960 is already a strong support."