Search
EN Down
Language
Hi, user_no_name
Live Chat

Sterling has found support at the 23.6% retracement of the rally from the Sep 2019 lows to the post-election euphoria highs. GBPUSD pushed through 1.32 at one stage on Tuesday, moving firmly clear from the support level at 1.3140.

The move erases much of the declines from last Thursday and Friday and may signal a recovery that bulls can use to base for a push north of 1.32 again. 50-day moving average support appears at 1.30 and is rising.

The rally ran out of legs at the 50% retracement of the decline from the Dec highs to the recent lows around 1.3220. Corresponding to this move, it’s the 38.2% retracement at 1.3140 that offers support near term. Double Fib support looks powerful.

Latest news

Markets remain on edge ahead of US nonfarm payrolls report

Friday, 6 September 2024

Indices

Investors tense ahead of today's US nonfarm payrolls data

Thursday, 5 September 2024

Indices

Gold prices are up more than 22% this year

Thursday, 5 September 2024

Indices

Bitcoin price struggles below $58k

Thursday, 5 September 2024

Indices

U.S. ETFs Experiencing a Boom in 2024

Live Chat