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.