GBP/USD Update – 06/09/2017 (10:50am) – by Arjun Lakhanpal

GBP/USD Update – 06/09/2017 (10:50am): GBP/USD continues to recover off the 1.2775/77 support area and has reached 1.3049 the May 2017 high again today. The near term uptick is expected to terminate ahead of the 78.6% retracement at 1.3162, and just ahead of here lies the 1.3126 July 18 high. The 1.2775/59 support zone consists of the December 2016, late April and late May lows. Below it sits the 50% retracement and 200 day moving average at 1.2688/69.