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GBPUSD Establishes Resistance At 1.3122

Posted On 25 Aug 2020
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gbpusd

The British pound sterling briefly tested the price level near 1.3122.

Price action was rejected, and this resulted in a strong bearish candlestick.

The current declines could see GBPUSD testing the lower support at the 1.3000 region.

We also have a rising trend line that could act as dynamic support in the short term.

However, for now, GBPUSD could settle into the range between 1.3122 and 1.3000.

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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