GBPUSD: Maintain the price increase channel!
Hello everyone!
The British Pound remained steady during Thursday's North American trading session, yet it stayed below the 1.2800 level after hitting a daily high of 1.2809 against the US Dollar.
Another major central bank has cut interest rates, and weaker US employment data has kept the pair around its current spot price. GBP/USD is trading at 1.2772, with little movement.
From the technical chart: GBPUSD has broken out of its downtrend channel and is now forming a new upward channel. With its recent stability, GBPUSD is likely to continue its upward trend, as long as the new channel remains intact.
The British Pound remained steady during Thursday's North American trading session, yet it stayed below the 1.2800 level after hitting a daily high of 1.2809 against the US Dollar.
Another major central bank has cut interest rates, and weaker US employment data has kept the pair around its current spot price. GBP/USD is trading at 1.2772, with little movement.
From the technical chart: GBPUSD has broken out of its downtrend channel and is now forming a new upward channel. With its recent stability, GBPUSD is likely to continue its upward trend, as long as the new channel remains intact.
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