- Analytics
- News and Tools
- Market News
- GBP/USD prints fresh monthly highs at the 1.3520 zone
GBP/USD prints fresh monthly highs at the 1.3520 zone
- Weaker US dollar and a EUR/GBP gives cable a boost.
- GBP/USD rebounds at 1.3480 and climbs to fresh highs.
- A positive tone across fanatical markets also helps the upside.
The GBP/USD rebounded at 1.3480 and rose to 1.3521, reaching a new monthly high. It remains near the top, still unable to confirm levels above 1.3515/20 but with the bullish momentum intact.
The decline of EUR/GBP to the 0.8380 zone (2021 lows) is helping the overall tone of the pound that is also being favored by higher equity prices. In Wall Street, the Dow Jones gains 0.16% and the Nasdaq 0.53%.
Higher US yields are not helping significantly the greenback on Thursday. US economic data came in above expectations with Initial Jobless Claims falling under 200K and the December Chicago PMI at 63.1 against expectations of 62. The DXY was unable to benefit from those figures.
If GBP/USD manages to break and holds above 1.3520 it would gain more strength. The next strong resistance could be seen at 1.3560. On the flip side, 1.3445 is the area of immediate support, followed by 1.3400.
The pound is on its way to the second weekly gain in a row, as it continues to recover from levels under 1.3200. The 20-week simple moving average awaits at 1.3555.
Technical levels
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
