GBPUSD Pares Losses As Price Approaches 1.3000

gbpusd

The British pound sterling is holding a steady pace of gains since last week’s reversal, just near the 1.2800 handle.

With the current bullish momentum, price action could be reaching for the 1.3000 handle next.

But if resistance puts a lid on the gains, then we expect the cable to enter a sideways range within the said levels.

To the upside, a strong close above 1.3000 is required to confirm further gains.

The main key risk for the GBPUSD will be the data-heavy week alongside the BoE meeting later on Thursday.

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.

Leave a Reply

*