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GBP/USD back for another look at 1.3000- will it cap the topside again?
The dollar is weaker since the start of the European session today and that has been led mostly by the move backwards in the USD/JPY. At the same time that fall has allowed both the EUR/USD and the GBP/USD to progress. The EUR/USD has now lifted slightly above 1.0825 and the GBP/USD has rebounded back towards the 1.30 handle once more. On Friday an update here noted there were sellers in place just ahead of that level and that information was duly proved correct. Earlier today the Pound fell back to a low at 1.2940, but it is close to the 1.2999 high it posted on Friday. The high seen so far has just been set at 1.2998. So, as you can see, that 1.30 handle is capping the topside still. The question from here on today, is will that continue? Well, it looks like it is running into sellers again. We shall see if that persists as the afternoon unfolds. The GBP/USD is currently trading at 1.2991
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