Cable edged higher in European trading on Friday ahead of release of US inflation data, today’s key economic event, with better than expected UK Q1 GDP numbers adding to improving sentiment.
GBP/USD Technical picture shows conflicting signals from daily indicators and 1.2702 , to shift near-term focus higher and expose targets at 1.2736/65. Caution of break through daily cloud which would revive bears and risk deeper fall.
Res:1.2670; 1.2702; 1.2736; 1.2765. Sup:1.2626; 1.2582; 1.2561; 1.2513. Interested in GBP/USD technicals? Check out the key levels R3 1.2727 R2 1.2699 R1 1.2669 PP 1.2641 S1 1.2611 S2 1.2583 S3 1.2553 Updated Jun 27, 00:00 GMT See Full Study
Technical Analysis Momentum Reversal
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