Sterling Consolidation Likely To Continue

gbpusd

The British pound made some modest gains on Tuesday but price action fell sharply intraday.

However, prices are now recovering from the intraday lows of 1.1639.

Overall, GBPUSD remains range bound within 1.2000 and 1.1497.

The Stochastics continues to show a hidden divergence that could keep price within the range.

However, watch for a possible upside breakout above 1.2000 handle.

 

Won't your trader friends like this?
Orbex
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.

Leave a Reply

*