This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The British pound managed to rally on the last leg as price broke past the price level and target of 1.2643.
The currency pair is now at a three-month high following a softer USD.
While there is scope for further gains to continue, we now expect a pullback in the making.
The initial support level near 1.2424 – 1.2343 will be ideal for prices to retrace to.
This will also validate the upside bias and potentially set up GBPUSD for a bullish continuation.
Alternately, if prices continue to move higher, then we have the next price level near 1.3122 that will be the upside target for the pound sterling.
The post GBPUSD breaks past the 1.2643 level, can it rise higher? appeared first on Orbex Forex Trading Blog.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.