GWFX Global:GBP/USD hanging just below 1.2900
The GBP/USD is bumping into the 1.2880 region after Thursday's mid-day announcement of a flurry of Brexit deals saw the Cable surging over 1.2% into a new weekly high of 1.2927 before bedding back down just shy of the 1.2900 major technical
level.The GBP/USD pair holds on to gains ahead of the Asian opening, but the upward potential seems well limited according to technical readings in the 4 hours chart, as the rally stalled well below a mild bearish 200 EMA, although above a directionless 20 SMA, while technical indicators entered positive ground before losing directional strength. Given the Brexit situation, the upward potential for the Pound is quite limited, with spikes being taking as selling opportunities by speculative interest.
Support levels: 1.2840 1.2800 1.2765
Resistance levels: 1.2890 1.2930 1.2965
level.The GBP/USD pair holds on to gains ahead of the Asian opening, but the upward potential seems well limited according to technical readings in the 4 hours chart, as the rally stalled well below a mild bearish 200 EMA, although above a directionless 20 SMA, while technical indicators entered positive ground before losing directional strength. Given the Brexit situation, the upward potential for the Pound is quite limited, with spikes being taking as selling opportunities by speculative interest.
Support levels: 1.2840 1.2800 1.2765
Resistance levels: 1.2890 1.2930 1.2965