Let’s take a technical look at GBPUSD. The Pounds weaker UK data saw to it that the GBPUSD pair broke below all previous supports, continuing its trend of breaking yearly lows. The next resistance level is 1.3060, however that may only be a tentative stall before momentum pushes it to the next support of 1.2985. Caution should be in place during this volatile period, with sell positions ready if the price moves back to 1.3105.
*The material does not contain an offer of, or solicitation for, a transaction in any financial instruments. 10TradeFX accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representationor warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.
10TradeFX is a trade name of Holiway Investments LTD(hereinafter the “Company”) is a registered Cypriot Investment Firm authorised and regulated by the Cyprus Securities and Exchange Commission (hereinafter the “CySEC”) with license no. 248/14. “Contract for Differences” (CFDs) are usually leveraged products. Trading Over-The-Counter (OTC) CFDs related to commodities, Forex, Indices and Shares, carries a high level of risk and can result in the loss of all of your investment.