- GBP/USD testing key level
- U.S. Bank Holiday
Price Movement
Last Friday, GBP/USD had moved up around 120pips.
Trend
Overall, GBP/USD is trending downwards.
Macro Background
No major economic news release.
Important Issue
As U.S. banks will be closed in observance of Presidents’ Day, expect lower than usual trading volatility and volume.
Technical
Last Friday, GBP/USD tested and rejected the 1.28 key level.
GBP/USD also broke the resistance level of 1.28667.
It is currently testing the 1.29 key level.
Price Levels
Current Price: 1.29144
Next Resistance: 1.30000
Next Support: 1.28667