Tighter election poll makes GBP/USD pair apprehensive, consolidates losses around 1.3150

At present, the GBP/USD is trading below 1.3150. It has consolidated its losses after British polls revealed that the Conservative are in the lead for UK elections.

Here are the important figures:

POUND RATES
GBP/USD 1.31 50 1/ 51 1
-0.00384 (-0.29%)
EUR/GBP 0.84 24 3/ 25 4
0.00126 (0.15%)
GBP/JPY 142.94 70 0/ 20 0
-0.49850 (-0.35%)

Technical Analysis of the situation show that support is at 1.31. In the spring, 1.3080 played a role. Further support is at 1.3013, October's peak; on the other hand, 1.2985 was the high for November. Market participants would be wise to keep tabs on the lines: 1.2950, 1.2885, and 1.2870.

Meanwhile, resistance is at 1.3180. This is a considerable swing high earlier this week, leading to a new seven-month high of 1.3215. The next lines to watch out for are 1.3275 and 1.3380.

11.12.2019

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions

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