GBP/USD ticks up in trading range [Video]
GBPUSD has reversed back higher again after finding support at the lower boundary of the trading range of 1.2610-1.2785. Currently, the price is rising beyond the 20-day simple moving average (SMA) and is approaching its previous highs. Read more...
GBP/USD Forecast: Buyers could retain control while 1.2700 support stays intact
GBP/USD gained traction and advanced toward 1.2750 early Tuesday after closing the first day of the week virtually unchanged. The near-term technical outlook points to a build-up of bullish momentum.
The upbeat market mood made it difficult for the US Dollar (USD) to gather strength early Tuesday and helped GBP/USD push higher. A Bloomberg report claiming that China was considering an equity market rescue package worth about 27 billion USD triggered a rally in Asian equity indexes and Hong Kong's Hang Seng gained nearly 3%. Read more...
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