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 sterling is posting gains after the support level near 1.2516 is holding up.

The rebound remains in line with the view of a retracement ahead of a correction. The downside bias remains as long as GBPUSD is trading below the upper resistance level of 1.2643.

In the event that price breakouts above this level, we expect the bullish momentum to continue pushing higher.

However, in the near term, we expect prices to remain range-bound within the said levels.

A breakout off these levels will potentially determine the direction of the trend.

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

The post GBPUSD rebounds off support, will price go higher? appeared first on Orbex Forex Trading Blog.


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