Technical Analysis

GBPUSD trades to new session lows.

Breaks away from 50% retracement

The GBPUSD is buying and selling to new session lows and in doing so, the pair is shifting away from the 50% retracement at 1.30606.  

Breaks away from 50% retracement

The subsequent goal is available in at 1.2996 to 1.30099. Swing ranges and the 61.eight% of the transfer up from the February low is available in at that space.

The Friday fixing is forward on the prime of the hour.  With Brexit weekend headlines and the vote subsequent week, there may very well be extra volatility within the pair.  Bear in mind. It’s Friday.

PS EURGBP helps to stress the GBP. It’s retracing the run decrease from yesterday’s run decrease. That pair has been up and down since February 26th.

EURGBP is racing higher which is pressuring the GBPUSD in the process

ForexLive


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