GBPUSD bullish on a close above 1.3000
BUZ INVESTORS GBPUSD bullish At 09:40 GMT, the pair is trading at 1.2964, with the Pound trading 0.08% lower against US Dollar from the New York close. In economic news, UK’s seasonally adjusted Halifax house prices unexpectedly dropped in April. The pair witnessed a high of 1.2987 and a low of 1.2946 during the session. On Friday, the Pound traded 0.17% higher against the US Dollar in the New York session and ended at 1.2974. Immediate downside, the first support level is seen at 1.2928, while on the upside, the first resistance level is situated at 1.2994.
“We underestimated GBP strength as the strong 1.2965 level did not pose much of a resistance (GBP hit a high of 1.2984 last Friday). The strong daily closing suggests further upward pressure but while a move above 1.3000 would not be surprising, a sustained up-move seems unlikely (next resistance at 1.3025)”.
“The rapid swing higher from last Thursday (04 May) low of 1.2831 came as a surprise. While the pressure has quickly shifted to the upside, only a daily closing above 1.3000 would indicate that GBP has moved into a bullish phase again. In the meanwhile, this pair is expected to stay underpinned with solid support at 1.2880”.
British Pound| Data | Chart | Calendar | Forecast | News
The GBPUSD decreased 0.0029 or 0.22% to 1.2939 on Monday May 8 from 1.2967 in the previous trading session. 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.The GBPUSD spot exchange rate specifies how much one currency, the GBP, is currently worth in terms of the other, the USD. While the GBPUSD spot exchange rate is quoted and exchanged in the same day, the GBPUSD forward rate is quoted today but for delivery and payment on a specific future date. This page provides – British Pound – actual values, historical data, forecast, chart, statistics, economic calendar and news. British Pound – actual data, historical chart and calendar of releases – was last updated on May of 2017.
Actual Previous Highest Lowest Dates Unit Frequency 1.29 1.30 2.86 1.05 1957 – 2017 Daily
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