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GBPUSD Rises To A New One-Year High

Posted On 02 Sep 2020
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gbpusd

The British pound sterling got a boost from a weaker US dollar as price briefly traded at a new one-year high of 1.3401.

Price action is pulling back lower following this new milestone.

The upside bias remains in place as long as the support level near 1.3300 holds up. But a close below this level could accelerate declines lower.

The next lower support will be near the 1.3122 level.

We could see another leg to the upside if the support level near 1.3300 holds and prices can rebound.

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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