Pound to reach yesterdays highs?
GBP/USD has fallen sharply off highs amid uncertainty around the US elections as it comes down to the last few states.
Votes are in, currently being counted as we await the final numbers which could take days.
In yesterday’s trading session price rose to 1.3140 an area of supply & immediately was rejected falling over 200 pips this morning.
Price has since bounced off previous descending trendline as bulls fight back to recover some of this mornings losses trading above 50 & 200 SMA.
Price currently trading on important resistance at 1.3000, a breach of this level could see bulls target yesterdays highs of 1.3112.
Continued uncertainty will help the safe haven Dollar but Biden still in the lead which should continue to support price.
US ISM Services PMI due at 4pm.
Support: 1.2904 - 1.2796
Resistance: 1.3129 - 1.3246
Votes are in, currently being counted as we await the final numbers which could take days.
In yesterday’s trading session price rose to 1.3140 an area of supply & immediately was rejected falling over 200 pips this morning.
Price has since bounced off previous descending trendline as bulls fight back to recover some of this mornings losses trading above 50 & 200 SMA.
Price currently trading on important resistance at 1.3000, a breach of this level could see bulls target yesterdays highs of 1.3112.
Continued uncertainty will help the safe haven Dollar but Biden still in the lead which should continue to support price.
US ISM Services PMI due at 4pm.
Support: 1.2904 - 1.2796
Resistance: 1.3129 - 1.3246
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