GBP/USD Price Analysis: Pound reverses up from multi-week lows, bulls eyeing 1.3180 level
GBP/USD daily chart
After the October and December bull-market, the pound is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs). The spot is nearing the 1.3100 figure and the 50 SMA.
Outlook GBPUSD: Strong bullish acceleration surged through key barriers
Cable surged through pivotal 1.30 barrier (Fibo 38.2% of 1.3209/1.2871), following mild negative reaction on resignation of Britain’s finance minister Javid amid reshuffle PM Johnson’s cabinet.
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