09:53, 04 March

Market Recap

On Tuesday last week we covered the GBPUSD which continued earlier in the week to climb above the key level of 1.32 before finishing the week easing back to this level and finding support there. The last three weeks has seen a resurgent sterling as it climbed back towards that key 1.32 level, after spending the previous three weeks falling away strongly from the same key resistance level at 1.32.
So it is quite significant that the GBPUSD was able to break through this level so it will be interesting to see if the support there is able to hold up. Looking lower, the other key level at 1.27 has supported the currency pair well in recent months.