- GBP/USD heading towards key level
- Trade War optimism
Price Movement
Since last Friday, GBP/USD moved down by around 65pips before moving back up by around 100pips.
Trend
GBP/USD is currently trending upwards.
Important Issue
This morning at around 0652 (SGT), U.S. President Donald Trump reported that “the U.S. has made substantial progress” in their trade talks with China on important issues such as intellectual property protection, technology transfer, agriculture etc.
Besides, he will also be delaying the U.S. tariffs increment that was originally scheduled for 1st March.
Technical
Last Friday, GBP/USD tested and rejected the support level of 1.30000.
Currently, it is heading towards the 1.31 key level.
Price Levels
Current Price: 1.30729
Next Resistance: 1.31675
Next Support: 1.30000