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GBP/USD edging closer towards major tech level at 1.2848
The drop back in the dollar today has seen both the EUR/USD and GBP/USD make headway. The earlier rebound back above 161.00 in the USD/JPY has now reversed and the dollar is trading back towards 160.50 now. That has afforded some more upside in those other two pairings. The EUR/USD is close to session highs just now and the GBP/USD has lifted to trade at 1.2840. That means it is very close to that major technical level, at 1.2848. As mentioned last week and again earlier today, that is the price point of the 200 week moving average and the Pound has not traded above that for nearly a year. So, it remains to be seen if this level will continue to cap the topside this afternoon and if not, whether or not the Pound might post a daily close above it this evening. The GBP/USD is currently trading at 1.2837
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Gold rises above technical resistance to set a new record high this afternoon
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