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 rose to a fresh three month high as prices briefly touched 1.2728 before pulling back modestly.
The price action on the daily chart could indicate a possible flat close, however.
Unless the currency pair can push further, there is a strong chance of a correction in place.
For the moment, the support area at 1.2643 will be critical.
A breakdown below this level will, however, signal a move to the 1.2424 price level which could attract new buyers into the market.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.