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WE'VE WATCHED THIS PAIR FOR A WHILE, IT HAS BEEN CHOPPY BUT JUST LIKE GBPJPY THE BEARS CANT' SEEM TO GAIN CONTROL. THIS PAIR COULD MOVE UPWARDS TO 1.33 LONG TERM WE FIGURED WE WOULD TAKE 40 PIPS OR MORE BETWEEN NOW AND SUNDAYS GAP! STAY TUNED IN!
We've watched the GBP since last week and noticed strong support around the 1.29900 - 1.3000 area, currently at a resistance and ranging period between 1.30100 - 130350, a break and close above 130500 levels should bring 132500 or more! This may impact the Euro negatively as well (EURUSD, EURGBP).