GBP Moving to daily low range versus USD
7/26/2017 3:03:32 PM
The Pound is in reform mode in Forex market, now driving GBP/USD to the lower end of the daily range in the 1.3025/15 band.
Cable is withdrawing for the second successive session up to now, fading yesterday’s decline to the area of 1.3088 and opening the door at the same time for a possible test of the critical support at 1.3010 the figure in case the selling bias speed up.
As mentioned above the pair is losing 0.06% at 1.3022 facing the immediate support at 1.2990 supported by 1.2974 and ultimately 1.2933. On the other hand, a break above 1.3086 would open the door to 1.3110 and ultimately 1.3131.
FOREX market analysis by FxErvin.