The pound is stabilizing

The British pound is stabilizing its position against the US dollar, after easing in the first half of Thursday’s trading. The pound’s decline was caused by the partial profit-taking by investors, after the strengthening of the British currency against the US dollar the day before. Also, at the moment, British support is provided by preliminary data on UK GDP for the third quarter. See the Market News.

Technical analysis: The GBP/USD pair maintains an upward trend in the short term. The main support levels are 1.3260; 1.3230. The resistance levels are 1.3350; 1.3385.

Fig. GBP/USD chart, current price – 1.3298.

Alexander Sivtsov