GBPUSD Rises To 1.3000

The British pound sterling is once again attempting to breakout past the 1.3000 level of resistance.

However, prices are still being rejected above this level, as 1.3000 is proving a strong resistance level to break. This will most likely keep GBPUSD confined below this level for the moment.

The Stochastics oscillator is also a bit overstretched, which could signal a pullback in price action.

The minor support near 1.2850 remains the downside line in the sand for the cable.

A close below this level will open the way for GBPUSD to test the 1.2750 level of support next.

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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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