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GBPUSD Drops Back To Retest Breakout Level

Posted On 04 May 2020
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gbpusd

The Pound sterling gave back some of the gains from late last week into Friday’s close.

GBPUSD was down 0.82% on the day as price settled near 1.2487.

This drop marks a retest of the breakout level which served as resistance.

A retest of this level for support could see price action to regain the bullish momentum.

The upside target at 1.2686 will be the next level of interest for buyers.

 

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“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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