GBP Trading Outlook
The Sterling (GBP) The GBP/USD has taken the mantle of the strongest currency in the market with the major grinding higher to 1.5950 and gaining against nearly all the other currencies with speculators flocking to the one clear trend emerging. 1.6000 is a clear target and resistance level and could be tested in coming sessions.
The Sterling (GBP) held above the 1.5900 level and gained heavily against other currencies especially against the Euro. EUR/GBP fell below 0.8400 and next support is 0.8280.
The Sterling (GBP) tested 1.5800 but held firm and soared above 1.5900 and is threatening to test 1.6000 in coming sessions in a strong bullish move overnight. The February CBI Retail Survey improved to -2 vs. -22 previously and EUR/GBP fell to 0.8960.
The Sterling (GBP) the GBP/USD traded in the same style as the Euro falling slightly back on the day but holding steady on the EUR/GBP cross. 1.5900 is seen as the resistance point whilst support in the lower 1.5800 region has held so far.
The Sterling (GBP) The GBP/USD tested 1.5900 on Friday closely tracking the Euro’s move up and on the front foot against the Yen and other risk currencies. GBP/AUD has been in a long downtrend and is beginning to unwind in recent sessions.
Go to The Sterling (GBP) Archive