STERLING BACK TO TEST 1.3000
Sterling has moved back to test the key 1.3000 level, after the pair fell to a two-week trading low on Tuesday, after better than expected U.S economic data. GBPUSD buyers are now testing the H1 time frame 50 period moving average, located at 1.3015.
The British pound is in demand today, as traders seek safe haven currencies, as tensions between the United States and North Korea rises.
The GBPUSD pair is bullish in the short term, while trading above the daily pivot point, found at the 1.2999 level.
Key intraday technical support is found at the H4 time frame, 200 period moving average, at 1.2980. Below the 1.2980 level the pair may retest the weekly low, at 1.2952, and the key 1.2930 level.
To the upside, a move above the 1.3015 level, should encourage GBPUSD buying interest towards the 1.3032 level, and the 100- hour moving average, at 1.3060.