GBPUSD Testing August 2019 Lows

The cable is seeing renewed selling pressure.

Price action is looking to the downside after the break of the 1.2200 handle. Price is now close to the August 2019 lows of 1.2016.

A break down below this level could trigger further declines. However, we suspect some kind of rebound in the near term.

If not, expect 1.2000 as the next support of interest. Given the psychological importance of this level, we expect the support to hold.

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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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