- GBP/USD is trading higher on Thursday as the US dollar sells off across the board.
- There is a resistance zone and a trendline quite close by that the bulls will need to watch out for.
GBP/USD Daily Chart
Cable is pushing higher today and trades over half a per cent in the black.
The price is headed to a resistance zone that is marked in red on the chart at 1.2966.
This is interesting as the price broke the consolidation low four sessions ago.
There had been rumours that the Bank of England would copy the Fed with an emergency cut but this never transpired.
The psychological 1.30 could also be important and I am sure the bulls will be watching these resistances closely.
Another sticky point could be the trendline at the top of the chart but the other zones are up first.