GBP/USD traded to a new cycle low just under 1.2040 in early European trade but gained a cent from the intraday low. Economists at Scotiabank analyze
traded to a new cycle low just under 1.2040 in early European trade but gained a cent from the intraday low. Economists at Scotiabank analyze the pair’sThe six-hour and daily charts reflect solid demand for the GBP off the early session low today which has formed a bullish outside range on the intraday chart and the makings of a similar signal on the daily chart .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD gained traction and rose above 1.0500 following a quiet Asian session on Wednesday. Ahead of the ADP private sector employment and the ISM Services PMI data from the US, the US Dollar stays on the back foot and helps the pair stay in positive territory.GBP/USD reversed its direction and stabilized in positive territory above 1.2100 after falling below 1.
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