Home Forex GBP/USD trading outlook for September 2nd 2016

GBP/USD trading outlook for September 2nd 2016

by Paul

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.

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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