For the first time since the Brexit debacle, the British pound capitalized on a weaker dollar Tuesday to climb above 1.4000 US. Read more on the latest 24 January GBPUSD Fundamental Analysis.
24 January, OctaFX – The British pound has raced higher against the greenback in early Wednesday trading, climbing to 1.4118, following broad-based selling in U.S dollar index. Better than expected employment figures from the United Kingdom economy today, have helped to boost the GBPUSD pair to a new 19-month trading high.
Price-action is currently hovering around the 1.4100 region, with the market’s attention firmly focused on the falling value of U.S dollar, as it trades well below the key 90.00 level.
24 January GBPUSD Fundamental Analysis
The GBPUSD pair is likely to extend gains while trading above the 1.4000 level, further upside towards 1.4160 and 1.4210 remains possible.
Should price-action on the GBPUSD pair start to move below the 1.4000 level, a correction towards the 1.3940 and 1.3880 levels may ensue.
This article about 24 January GBPUSD Fundamental Analysis 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.