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GBPUSD Breaks The Trend Line And Turns Bullish

Posted On 02 Jul 2020
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gbpusd

The pound sterling is posting strong gains for the second consecutive day, with prices rising to a one week high.

The gains come following a successful breakout of the falling trend line. This opens up the upside toward the 1.2516 level where resistance could keep a lid on the gains.

We also suspect a pullback to the breakout level of the trend line. This will potentially cement the upside in GBPUSD for now.

However, further gains might be in store if the cable manages to clear the 1.2516 level of resistance.

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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