GBP/USD gained some positive traction for the second straight session on Wednesday while a slew of important UK macro data failed to impress bulls or provide any meaningful impetus, FXStreet’s analyst Haresh Menghani briefs. Key quotes “A slew of important UK macro data did little to impress bullish traders or assist the pair to capitalize on its positive move witnessed over the past two trading session. The market focus now shifts to the US economic docket, which highlights the release of initial weekly jobless claims.” “A sustained strength above the 1.2420 supply zone might prompt some near-term short-covering move and accelerate the momentum towards the next major hurdle near the 1.2475-80 region.” “On the flip side, immediate support is now pegged near the 1.2330-25 region and is closely followed by the 1.2300 round-figure mark.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP: The end of the down move – Commerzbank FX Street 2 years GBP/USD gained some positive traction for the second straight session on Wednesday while a slew of important UK macro data failed to impress bulls or provide any meaningful impetus, FXStreet’s analyst Haresh Menghani briefs. Key quotes “A slew of important UK macro data did little to impress bullish traders or assist the pair to capitalize on its positive move witnessed over the past two trading session. The market focus now shifts to the US economic docket, which highlights the release of initial weekly jobless claims.” “A sustained strength above the 1.2420 supply zone might prompt some near-term short-covering move and… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
