TenkoFX - Analytics

    TenkoFX

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    Has GBP/USD finally met its match? 200 dma proving tough Ross J Burland

    GBP/USD has suffered offers back below the 1.46 handle on a bid dollar and profit taking. GBP/USD made highs of 1.4709 before suply finally came in, but the offers were short-lived and the price bounced back onto the 1.46 handle to trade 100 pips higher where the price now consolidates. The same spike occurred through EUR/GBP and the pound simply remains better bid on the back of Bremain polls over the weekend taking the lead as we head towards the 23rd June EU referendum. GBP/USD levelsGBP/USD has surged to a fresh June high, as noted by analysts at Scotiabank who also noted the near-term break of the 200 day MA (1.4689). "Momentum signals are moderately bullish and trend indicators are muted." The price in fact made a high of 1.4706 and is stalling there. 1.4768 is next target being the 2nd May high. Pull backs aim at 1.4350 and this week's opening gap. 


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