British Pound | Data | Chart | Calendar | Forecast | News
BUZ INVESTORS The pound increased to the highest level since September 22nd, 2016 of $1.3 on Thursday, after the UK retail sales data came well above market expectations, rising the most in 15 months. The currency gained 0.5% around 10:30 AM London time. Historically, the British Pound reached an all time high of 2.86 in December of 1957 and a record low of 1.05 in February of 1985.
Trade Idea Wrap-up GBPUSD – Buy at 1.2945
Cable’s intra-day rally above indicated psychological resistance at 1.3000 confirms recent upmove has resumed and bullishness is seen for further gain to 1.3050, then 1.3075-80, however, near term overbought condition should prevent sharp move beyond 1.3100-10, risk from there has increased for a retreat to take place later.
In view of this, would not chase this rise here and would be prudent to buy cable on pullback as support at 1.2933 should limit downside and bring another upmove. Below 1.2900-10 would abort and signal top is formed instead, bring weakness towards support at 1.2866, however, price should stay above said support at 1.2844.
|United Kingdom Markets||Last||Previous||Highest||Lowest||Unit|
|Government Bond 10Y||1.09||1.16||16.09||0.52||percent||[+]|
|30 Year Bond Yield||1.80||1.81||16.01||1.22||percent||[+]|
|2 Year Note Yield||0.11||0.12||0.93||0.04||percent||[+]|
|5 Year Note Yield||0.56||0.58||13.58||0.13||percent||[+]|