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GBPUSD Holds The Range Between 1.3122 & 1.3000

Posted On 27 Oct 2020
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The British pound sterling drifted lower on Monday as intraday prices briefly tested the 1.3000 handle.

However, price action remains volatile around this level.

The Stochastics oscillator is oversold and could signal a short term move to the upside.

Meanwhile, price action is on track to close bearish for the third consecutive daily session. Still, prices remain well within the range from last Wednesday.

As a result, only a bearish close below 1.2944 could spell further declines.

For the moment, the bias remains mixed.

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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