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The GBPUSD currency pair is near a two-week high.

After clearing the price level near 1.2277, price action is having an upside bias.

The next target is at 1.2424, marking a strong resistance level from earlier attempts.

As a result, GBPUSD might settle into a sideways range. A close above 1.2424 will, of course, mark a full recovery from the slump which began in early May this year.

The declines to the downside are limited for now, as long as 1.2277 holds up.

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

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