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GBP/USD Still Looking for September Gap at 1.2974 after May Day

GBP/USD Still Looking for September Gap at 1.2974 after May Day

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Still Looking for September Gap at 1.2974 after May Day

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Recent updates have noted that “a minor reaction following a breakout indicates a strong market. Additional sideways trade can’t be dismissed but realize that the reaction low after the breakout is 1.2755. That low represents a re-test of the December high (former resistance providing support…which is bullish).” GBP/USD has continued higher and focus remains in that direction. The uncovered close from September at 1.2974 is viewed as a minor hurdle.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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