Sterling Breaks To The Downside From Its Range

gbpusd sterling

The pound sterling is looking to break out from its range as price slipped from the lower range on Friday.

The declines below 1.2260 level could indicate a move lower.

However, the intensity in the breakout remains weak, putting to question the downside bias.

With the Stochastics oscillator likely to turn higher, we suspect this could be a fake breakout lower.

Expect GBPUSD to move back into the range, unless prices drop further below from 1.2260.

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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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