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GBPUSD Rebounds After Establishing New Support

Posted On 10 Jun 2020
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gbpusd

The British pound sterling is posting steady gains. The gains come just after GBPUSD slipped back to the 1.2643 level.

With support forming here, price action is attempting to test the previous highs from earlier on Tuesday.

A close above 1.2719 could potentially signal further gains toward the 1.3000 key psychological level.

However, keep an eye on the Stochastics oscillator which could potentially signal exhaustion in the near term.

This will put further gains at risk and also the support level of 1.2643.

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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