GBP/USD Update – 19/04/2017 (10:30am) – by Arjun Lakhanpal
April 19, 2017GBP/USD Update – 19/04/2017 (10:30am): GBP/USD manages to hold well above 1.28 handle, having found strong support near 1.2810 region, as latest comments from the UK PM Theresa May on the upcoming general elections continue to underpin the sentiment around the GBP. However, the upside seems capped near 1.2855/60 band, in the wake of persisting broad based US dollar recovery from three-week troughs. Momentum above 1.2860 (daily high) could lift the pair above 1.2912 (flash rally high), beyond which a test of 1.2950 (psychological levels) is imminent. Conversely, a break below 1.2800 (round number), leading to a subsequent break below 1.2754/50 (daily pivot) is likely to drag the pair towards testing its next support near 1.2700 zone.
