GBP/USD:Price continues to Grow - Next target LONG 1.26000

THE GBP/USD is still inside a strong bullish rally, a raising channel with the creation of new Higher-highs and Higher-lows has guided the pair to reach 1.2400 where today the price seems ready to make new higher-highs. Economists at ING note that the Pound could thrive in the long term as the Labour party leader aims to rebuild good trade relationships with the bloc. The leader of the opposition Labour Party, Keir Starmer, is reported to deliver a rather conciliatory speech in Davos today about the future of EU-UK relationships. The Labour party is leading by a rather large margin in the latest opinion polls ahead of next year’s general elections and evidence of a softer stance on Brexit should benefit the Pound in the long run.

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