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ADS Securities: Trump commentary awakes GBPUSD bulls
13/04/2017
ADS Securities: Trump commentary awakes GBPUSD bulls

Trump commentary awakes GBPUSD bulls, as the President of the US believes that the USD got ‘too strong’. ADS Securities’ analysts see support at 1.2490.

13 April, ADS Securities – The Pound strengthened against the US Dollar for the third consecutive session yesterday despite an unexpected rise in the number of people claiming jobless benefits in the UK. The GBPUSD pair closed at 1.2538, after notching a high at 1.2548.

Trump commentary awakes GBPUSD bulls

As of now, the price action appears to be slightly bearish on the 1H chart, hinting at possible correction over intraday basis. Moreover, the MACD indicator is showing loss of upward potential, further validating the above view. Important support is placed at the 1.2490 level, followed by the 1.2450 and 1.2375 levels.

A breach below the latter might trigger negativity in the pair. Conversely, the key technical obstacle is positioned at the 1.2565 level, followed by the 1.2595 and 1.2665 levels. A break above the latter might lead to further bullish momentum in the pair.

Trump commentary awakes GBPUSD bulls

ADS Securities Risk Disclaimer

This technical analysis about GBPUSD is intended solely for the person or entity to whom it is addressed. Such person or entity is prohibited from disseminating, distributing, transmitting or forwarding this communication to any other person or entity. Also, this communication may not be used in whole or in part by any person or entity. Which it was not originally directed to by ADS Securities LLC (“ADSS”, “us” or “we”). Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk. Hence, it may not be suitable for all investors.

All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary. It does not constitute investment advice. Nor a solicitation or recommendation for you to buy or sell any over-the-counter product or another financial instrument.

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