Back to Blog

GBP/USD is facing pullback on its support

The GBP/USD fell slightly on Monday with the market being relatively illiquid due to the American and British holiday. At 1.5089 at the moment of writing, the pair started the day on negative footing. The pair is facing a pullback on its support with the 1.50 level being key for the bulls to watch. As long as we remain above the psychological important area of 1.50, there is further upside potential all the way up to 1.5155. A break above that level would open the way to 1.522. In the alternative scenario, we need to see a consistent break below 1.50 to get on the short side of the market. On the economic data front, a quiet European session puts the focus on the US Consumer Confidence and Richmond Fed reports.

Dafni Serdari
Market Analyst
Intertrader.com, Spread betting & CFDs
Disclaimer
The comment in this blog is the personal opinion of the contributors and not Intertrader.com. The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. Intertrader.com is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.
Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.