GBP/USD trading outlook for September 2nd 2016


Yesterday’s trade (in GMT terms) saw GBP/USD within the range of 1.3128-1.3318. The pair closed at 1.3268, soaring 0.98% compared to Wednesday’s close. It has been the 150th gain in the past 329 trading days, a second consecutive one and also the steepest one since August 16th.

The daily high has been a level unseen since August 4th, when a high of 1.3347 was registered. The major pair has appreciated 0.98% so far during the current month, after losing 0.72% of its value in August.

At 7:14 GMT today GBP/USD was inching up 0.01% on the day to trade at 1.3269. The pair touched a daily high at 1.3295 during the late phase of the Asian trading session, overshooting the daily R1 level, and a daily low at 1.3265 during early European trade.


The author Paul