$GBPUSD May be Topping Below $1.2722 forexsignals forexsignal
that the price was consolidating within quite a narrow range of one big figure, with support near $1.27, resistance near $1.28, and a key level right in the middle confluent with $1.2750. It seemed likely that today the price would continue to move little, meaning that provided the price remains within this range, there could be opportunities for cautious scalping trades from rejections of any of these levels.
This was a good call, as there was a short scalp available during the early part of the London session from the bearish rejection of the big quarter-number at $1.2750., due to it being Monday which is typically a quiet day in the Forex market, and as the US Dollar is in a technical consolidation, plus the Pound has not been moving much over recent days., and with its current price action, does not look like it is about to reverse.from $1.2722 if that level is reached again today.
Concerning the USD, there will be a release of US ISM Manufacturing PMI data at 3pm London time. There is nothing of high importance due today regarding the GBP.
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