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 promptly retreated after rising to the 1.2277 level. This potentially indicates resistance at this level.

However, the trend line is coming in as dynamic support, and price action is consolidating around this trend line.

It still keeps the bias to the upside and the price level at 1.2277 will be tested once again.

But, only a strong breakout above the resistance level can confirm further upside.

However, for the moment, it seems that the currency pair has hit a bottom at 1.2100.

Only a breakdown back below the trend line could see declines to this level.

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

The post GBPUSD consolidating near the trend line appeared first on Orbex Forex Trading Blog.


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