GBP/USD technical analysis: Pound gets rewarded by a 50-pip boost ahead of UK PM May’s statement
|- GBP/USD is having a 50-pip boost to the daily high, however, buyers will need to reclaim 1.2760 and 1.2800 to have a more convincing bottom.
- Brexit drama could be the main driver behind the recent jump in the New York session. UK PM May will announce a new Brexit deal at 15:00 GMT.
GBP/USD daily chart
GBP/USD is finding some relief from after the intense selling of the last weeks. The main supports to the downside are at 1.2700 figure, 1.2670 swing low and 1.2550 level.
GBP/USD 4-hour chart
GBP/USD is currently having a boost to the upside from the 1.2700 figure.
GBP/USD 30-minute chart
GBP/USD is consolidating its losses above the 1.2700 figure. Cable is trading below its 200 SMA while above the 50 and 100 SMA. Bulls would need to trade above 1.2760 Monday high - to get out of the woods and create a more convincing reversal. Further up the next resistance is seen at 1.2800 figure. Supports are at 1.2700 and 1.2670 levels.
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