GBP USD moving toward lows
2/21/2017 1:14:17 PM
The pound is subsequent south the rest of the risk-associated peers, taking GBP versus USD to the mid-1.2403s ahead of UK data and the BoE’s Inflation Report.
In spite of the hard pick up in the demand for the dollar, the pair manages well to keep the trade within the familiar range in the mid-1.2403s, posting peripheral losses ahead of the opening bell in the Old Continent.
As mentioned above the pair is losing 0.051% at 1.2456 facing the next support at 1.2387 ahead of 1.2346 and ultimately 1.2248. On the upside, a break above 1.2516 would open the door to 1.2552 and ultimately 1.2713.
FOREX market analysis by FxErvin.