FXStreet – The pound is extending its recovery against the us counterpart of the of 1.29, while the GBP/USD on the required pulse waiting to 1,2950 to rise.
The recovery of crude oil prices and the rising European shares to increase the risk appetite, the GBP is benefiting.
It will affect the Cable by the recent Brexit headlines. The President of the European Commission, Juncker said that it will hold the negotiations with the United Kingdom completely transparent.
The focus now shifts to the USD. Eie strength of the Greenback is based mainly on the profit-taking of his rivals before the US NFP will be released.
• GBP/USD in the Range of 1,2750/1,2950
• US NFP forecast: Who cares? The USD falls anyway
GBP/USD to test levels
About 1,2955 (High-1. May) are the next Resistances at 1,2970 (7-month high) and 1.3000 (psychological level). On the other hand, supports are located at 1,2861 (Deep-3./2. May), 1,2834/29 (Deep 27. April/4. May) and 1,2800 (psychological level).
** FXStreet News Editorial, FXStreet**