The sterling pound (GBP) is negotiated marginally firmer in the session and has improved a bit in relation to Friday’s intradic peak, says Shaun Osborne, head of FX of Scotiabank.
GBP maintains a solid technical gain since last week
“There were no data reports from the United Kingdom today and GBP performance simply reflects the widest tone of the USD and, perhaps, some signs of technical strength.”
“The GBP closed last week firmly, consolidating the third stage of a bullish sailing pattern of” morning star “in the weekly graphic. The price also broke over the resistance of the bearish trend from the peak of September .
“The solid profits again today, at least, support the most positive technical perspective and the possibility of a setback towards the range of 1.26/1.27 (1,2610 is the setback of 38.2% of the fall of 1.34/1.21). The support is in 1,2415/25. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
