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GBPUSD Tests The 1.3300 Support Level

Posted On 25 Nov 2020
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gbpusd

The British pound sterling is failing to make further gains after clearing the 1.3300 level.

Price action continues to pullback as the GBPUSD is firmly testing the 1.3300 level for support.

As long as the support holds, the GBPUSD is biased to move to the upside.

The next key target will be the September 1st highs of 1.3483. For this to happen, GBPUSD will need to post higher highs.

o the downside, if the cable loses the 1.3300 support, we could expect to see a brief decline.

But the trend line should act as dynamic support to keep prices from falling further.

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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