From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
16 Aug 2016
GBP/USD reaches 6-day highs above 1.3000
GBP/USD found support around the 1.2950/60 zone and turned again to the upside amid a stronger pound in the market. The pair broke above previous highs and reached at 1.3037, the strongest level since August 10.
Currently it trades at 1.3030, near daily highs and holding a bullish tone. It is the first daily gain after falling during the previous four trading days.
Cable gained momentum as the pound rose across the board. EUR/GBP hits fresh lows under 0.8650 after trading earlier on top of 0.8700.
Technical levels
To the upside, resistance might be located at 1.3035/40 (daily high), 1.3090 (Aug 9 & 10 high) and 1.3155 (Aug 1 low). On the flip side, support could be seen at 1.3000 (psychological), 1.2935/40 (European session low) and 1.2880/85 (daily low).
