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 is, so far, holding up steady after price cleared the 1.3122 handle.
The breakout from this resistance level comes on a minor ascending triangle pattern. This gives the minimum upside target to 1.3250.
At the time of writing, GBPUSD is trading well below this level. For the moment, the bias remains to the upside.
Any dips will likely attract new buyers into the market, which should keep the momentum supported to the upside.
In terms of the support, the 1.3122 level remains the likely target to the downside.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.