Breaking News: Sterling Surges to Weekly High – 1.3000 Up Next

GBP/USD pair can gain support around 1.2950 and 1.29250. While the violation of 1.300 can lead the Cable towards 1.3050. Let's keep an eye!

Written by: Arslan Butt • Tuesday, April 30, 2019 • 1 min read

• Last updated: Tuesday, April 30, 2019

What a massive move in GBP/USD! And what’s more surprising is that there’s no direct fundamental behind it. GBP/USD has soared over 30 pips in no time, and now it’s likely to test a psychological support area of 1.3000.

The closing of candle below this level can trigger a sharp sell-off now. The pair can gain support around 1.2950 and 1.29250. While the violation of 1.300 can lead the Cable towards 1.3050.

Let’s keep an eye!

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.