On Wednesday
the GBP/USD pair marked a two-week low at 1.2810, but since then we witnesses
not just a recovery, but strong upward movement with a potentional fresh weekly
top around 1.2975-1.2980 area.
Following Yellen’s dovish stance from Wednesday, the US dollar was seen weakened and meanwhile the UK labor market showed unexpected good numbers, which supported the pair to build this nice recovery.
On the four-hour time frame the parice has crossed to above the 20-day SMA, which has turned its direction to north. RSI and stochastic are displaying strong bullish momentum and are located within the positive territory.
Immediate support is located around 1.2930-1.2925 area and in case of breaking it to below, the pair is poised to meet net one at 1.2900.
Looking to the upside, momentum beyond the daily high could be extended towards the 1.30 mark.
Following Yellen’s dovish stance from Wednesday, the US dollar was seen weakened and meanwhile the UK labor market showed unexpected good numbers, which supported the pair to build this nice recovery.
On the four-hour time frame the parice has crossed to above the 20-day SMA, which has turned its direction to north. RSI and stochastic are displaying strong bullish momentum and are located within the positive territory.
Immediate support is located around 1.2930-1.2925 area and in case of breaking it to below, the pair is poised to meet net one at 1.2900.
Looking to the upside, momentum beyond the daily high could be extended towards the 1.30 mark.
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