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Sep 25 - 05:55 AM

GBP/USD - Rises To Three-Day Top Around Fibo Resistance Level

By Rob Howard  —  Sep 25 - 03:45 AM
  • Cable hits 1.2805 (three-day high) after vaulting 1.2780 (Thursday's high)

  • 1.2805 approximates to 38.2% Fibo of 1.3008 (last week's high) to 1.2676

  • 1.2676 was Wednesday's nine-week low (1.2865 was Tuesday's high)

  • Ascent to 1.2805 influenced by some profit-taking on USD long positions

  • USD on course for its best week in six months nL3N2GM0VR

  • Democrats crafting new $2.2 trillion COVID-19 relief package nL2N2GL1UE

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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