GBPUSD Intraday Technical Outlook


Concerning Russian sanctions, President Trump is keeping the decision on hold for the time being. “We are considering additional sanctions on Russia, and a decision will be made shortly,” said Sarah Huckabee Sanders, the White House press secretary.

17 April, OctaFX – The British pound has started to correct lower against the U.S dollar, following a weaker than expected increase in monthly wages earnings from the UK economy.

Fed’s speeches and US data Ahead

The GBPUSD pair currently trades around the 1.4320 regions, after earlier hitting 1.4376, which marked sterling’s highest trading level since the day of Brexit. Traders now look towards the release of U.S macroeconomic data and a host of FED speakers, with the 1.4344 level the key upside pivot level to watch.

17 April GBPUSD Intraday Technical Outlook

  • The GBPUSD pair is likely to move higher while trading above the key 1.4344 level, resistance is now found at the 1.4376 and 1.4440 levels.

  • Should the GBPUSD pair start to trade below the 1.4300 level, a price-correction towards the 1.4260 and 1.4230 levels appears possible.

Disclaimer

This article about 17 April GBPUSD Intraday Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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