Skip to main content

GBP/USD still holding below topside levels so far this morning

In the famous 1987 film Wall Street, one of the key lines evolves around insider trading, concerning a stock called Annacott steel and the secret code word signal used to commence buying that stock. Now this update has nothing to do with insider trading, but an old colleague keeps calling me, saying that; Blue Horseshoe loves Cable. Cable is the well-known term for GBP/USD, as I am sure many of you know. Of course, he is making fun of the famous line in that movie, but the point being, is that he is looking for more upside in the pound. He might be right on that, but there is still resistance to be found on the topside. That is immediately at around 1.2560 and then at 1.2589. All the while those levels cap the topside, my friend is being thwarted it seems. The range seen so far today has been covered by 1.2525 to 1.2546. It is currently trading at 1.2529
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!