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British Pound to Dollar Rate: GBP Still A “sell On Rallies” Against US Dollar

One of the best performing currency pairs of the latter part of the week has been the pound to Dollar conversion.

The Rate has moved higher as the US dollar is hampered by the US Federal Reserve while the pound’s central bank, the Bank of England, provides some upside impetus.

The result is that GBPUSD has cleared above 1.4396 resistance and now approaches 1.4500 on some decent buying interest over the past 24 hours.

CitiFX Technicals say they are maintaining a stance of selling the pound on Rallies noting the exchange rate remains subject to a bearish technical outlook with longer term support at 1.3508-1.3682 being viewed.

These targets are the lows from 2001 & 2009.



This post first appeared on Trading Blogs And Financial Markets Analysis, please read the originial post: here

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British Pound to Dollar Rate: GBP Still A “sell On Rallies” Against US Dollar

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