GBP can't take advantage of Dollar weakness
GBP/USD saw an uptake yesterday jumping 120 pips to yesterdays resistance level at 1.2357 amid Dollar weakness.
Chinese American tensions & post Brexit trade deal issues didn’t impact the pair.
This morning price dropped back to yesterday’s resistance level at 1.2293 as this morning we entered two short term buy positions, closing at 1.2313 & 1.2312 respectively for 39 Pips profit.
GBP has failed to break 1.2361 4 times now & struggled to take advantage of dollar weakness, failure to break this again could lead to a downward trend to 1.2175. Alternatively if price can breach this level expect a continuation to 1.2425.
Support: 1.2243 – 1.2175
Resistance: 1.2368 – 1.2425
Chinese American tensions & post Brexit trade deal issues didn’t impact the pair.
This morning price dropped back to yesterday’s resistance level at 1.2293 as this morning we entered two short term buy positions, closing at 1.2313 & 1.2312 respectively for 39 Pips profit.
GBP has failed to break 1.2361 4 times now & struggled to take advantage of dollar weakness, failure to break this again could lead to a downward trend to 1.2175. Alternatively if price can breach this level expect a continuation to 1.2425.
Support: 1.2243 – 1.2175
Resistance: 1.2368 – 1.2425
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