>> The GBP/USD has formed a swing above previous retracement highs and we could see a new bullish momentum<<
Holding above 1.3060 is crucial for bulls to regain control. Price is above L3 pivot and has not tested W H3 pivot. We might expect a new retest if bullish momentum persists. The target is 1.3170. Have in mind that any negative Brexit news might impact the current bullish run. The GBP/USD is light on fundamental data today so it needs another catalyst to push forward and until it happens we might see a slower price action that is mostly range-bound.
This article was originally posted on FX Empire
More From FXEMPIRE:
- Gold Price Futures (GC) Technical Analysis – October 9, 2018 Forecast
- Here’s Why You Should Follow the Italian/German Bond Yield Gap?
- E-mini Dow Jones Industrial Average (YM) Futures Analysis – October 9, 2018 Forecast
- Precious Metals Take Dovish Turn On Strong USD
- U.S., Europe, China – The Hotspots of Fear are Burning Everywhere
- How to Trade FANG Stock with CFD’s