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Pound stabilizes after sell-off, stocks rise on policy hopes, oil

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Cable finds some support after Johnson-shock After some vicious selling at the beginning of the week, the pound found some support just below 1.40 versus the US dollar. True the pair dipped to as low as 1.3878 – anew 7-year low- in the aftermath of London Mayor Boris Johnson’s announcement that he was backing the ‘Leave’ campaign. The pound subsequently emerged back above 1.40 by Friday after spending Wednesday and Thursday below that key psychological level. The issue of Brexit

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