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

GBPUSD is maintaining a steady pace as the recent rally has pushed price to the technical resistance area of 1.2271.

The strong hidden divergence on the Stochastics points to a possible correction lower.

Given that GBPUSD has formed a bottom near 1.2100, this could be the downside in the currency pair.

But, we expect price action to remain range-bound within 1.2271 and 1.2100 in the short term.

Any breakout above 1.2271 will, of course, need to see a higher low forming above this level to validate any further upside gains.

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

The post GBPUSD could struggle to breakout above 1.2271 appeared first on Orbex Forex Trading Blog.


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