Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/USD jumps towards 1.32 as Trump's tariffs hurts dollar

• GBP/USD   hits six month high on Thursday as  dollar weakened driven by concerns over President Donald Trump’s expansive trade barriers.

•  Trump imposed a 10% tariff on most goods imported into the United States, along with significantly higher duties on a range of competing countrie..

•  The new tariffs unsettled markets, raising concerns that a full-scale trade dispute could spark a severe global economic slowdown and drive up inflation.

•. At GMT 14:07, The pound  was last  trading up 1.24% to 1.3163against US dollar

•   Immediate resistance is located at 1.3225(38.2%fib), any close above will push the pair towards 1.3360(23.6%fib)

•  Strong support is seen at 1.3099 (50%fib) and break below could take the pair towards 1.2973(61.8%fib).

  Recommendation: Good to buy  around 1.3150, with stop loss of 1.3080 and target price of 1.3250

FastComments.com
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.