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GBP Pulls Back After Failing To Breakout From Range

Posted On 30 Apr 2020
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gbpusd

The GBPUSD currency pair is likely to continue its range-bound trading for a while.

Following the previous session’s gains to the resistance level near 1.2485, price action is pulling back.

This could keep price action subdued within the established range.

However, the Stochastics oscillator is positioning into a possible pick up in the bullish momentum.

But a lot will depend on whether and when GBPUSD will clear the upper resistance level of 1.2485.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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