GBP USD moving to positive territory
11/11/2016 10:10:50 AM
The bid tone behind the GBP keeps rising more in the European hours, taking GBP/USD more into positive territory on the upper bound of 1.2500 handle.
The cable picked-up substantial strength in early Europe and now looks to test post-flash crash highs got at 1.2585 in the last US session. The major is now trading around 1.2575 region, up 0.20% on the day, and within close nearness to daily tops.
The GBP/USD pair collected momentum and moved forward more among new risk-on wave, after the Euro stoxx futures gained +0.40 in early trading, which pointed towards a positive start to the European markets.
The pair finds immediate persistence located at 1.2600, 1.2650 and 1.2700. While supports are aligned at 1.2550 and 1.2505 and below that at 1.2460.
Fundamental Analysis
by FxErvin