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The British pound sterling is once again attempting to breakout past the 1.3000 level of resistance.

However, prices are still being rejected above this level, as 1.3000 is proving a strong resistance level to break. This will most likely keep GBPUSD confined below this level for the moment.

The Stochastics oscillator is also a bit overstretched, which could signal a pullback in price action.

The minor support near 1.2850 remains the downside line in the sand for the cable.

A close below this level will open the way for GBPUSD to test the 1.2750 level of support next.

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

The post GBPUSD Rises to 1.3000 appeared first on Orbex Forex Trading Blog.


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