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 sterling recovered from the losses in the week before, by closing last week with gains.

Price action remains flat both on the weekly charts as well as on the 4-hour chart time frame.

Trading within the 1.3000 and the 1.2750 levels, a breakout is likely to occur in the medium term.

The flat price action reflects a number of underlying factors including the uncertain outlook of the economy and the Brexit trade talks.

In the short term, the cable is likely to maintain this range. A breakout from the range is likely to coincide with some major fundamentals driving price action.

To the downside, a close below 1.2750 will open the way for price to test 1.2516.

To the upside, above 1.3000, we expect the resistance level at 1.3122 to hold.

Test your strategy on how the GBP will fare! Open your Orbex Account and start trading now. 

The post GBPUSD Closes the Week with Gains appeared first on Orbex Forex Trading Blog.

To keep reading this article, please navigate to: Orbex Forex Trading Blog.