Breaking News: Sterling Surges to Weekly High – 1.3000 Up Next
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
Arslan Butt
// Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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