GBPUSD Likely To Settle Inside The Range

gbpusd

The British pound sterling is also extending losses from last Friday. Just after price made another attempt to close above 1.3122, GBPUSD dropped lower.

For now, price action is likely supported near the 1.3000 level. We expect some ranging price action to extend within these levels.

Only a breakout from the range will determine the near term direction. GBPUSD could be poised to breakout higher given the bullish momentum,

A strong close above 1.3122 is required with follow-through to post a new high. The next main target is 1.3200.

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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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