FxWirePro: GBP/USD trades lower on rising Russia –UK tensions, good to buy on dips
Cable has declined almost more than 50 pips from today’s high of 1.39885 on account of increasing tensions between Russia and UK. UK-Russia tension risk has been escalated over ex-spy’s poisoning. The poisoning of an ex-…
Cable has declined almost more than 50 pips from today’s high of 1.39885 on account of increasing tensions between Russia and UK. UK-Russia tension risk has been escalated over ex-spy’s poisoning. The poisoning of an ex-Russian spy named Sergei Skripal and his daughter Yulia. The pair hits intraday low of 1.39215 and is currently trading around 1.39395.
Russia hits back at Britain today as the Kremlin said Russia will respond to baseless accusation against Moscow from the UK.
Technically on the lower side, near term support is around 1.3920 and any break below will drag the pair down till 1.3860/1.3800.
The near term resistance is around 1.4000 and break above will take the pair till 1.4070/1.4140. The pair should break above 1.4070 for further upside.
It is good to buy on dips around 1.3945-50 with SL around 1.3900 for the TP of 1.4070.
