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GBPUSD Positioning For A Move Higher

Posted On 16 Apr 2020
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gbpusd

The pound sterling lost some ground, down over 0.80% intraday.

However, prices are recovering after the level near 1.2485 didn’t manage to stall the declines.

The Stochastics oscillator is hinting at a potential hidden divergence. This puts the upside bias in view.

A continuation higher will see GBPUSD potentially reaching for the 1.2858 level where resistance will most likely form on the initial test of the price level

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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