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.
- -

gbpusd

The British pound extended its declines on Friday as price action settled near the 1.2368 level.

The decline to this level confirms the correction that has been underway.

For the moment, prices might consolidate. The upside level near 1.2516 is yet to be tested for resistance.

Therefore, the rebound in price action could see a sideways range forming.

Alternately, if GBPUSD drops below 1.2368, then we suspect a move even lower. The next price level of interest is at 1.2234.

This will bring GBPUSD back to 28 May lows. It will also see price action fully erase the gains made from the May 28 lows to 10 June highs.

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

The post GBPUSD completes its correction appeared first on Orbex Forex Trading Blog.


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