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Sterling Gives Back Gains From Previous Sessions

Posted On 24 Mar 2020
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gbpusd intraday

The British pound is trading weaker once again, down over 1.5% intraday.

The declines erase the modest gains from late last week. As price action tests the support area of 1.1477, this level is now at risk.

A break down below this support region could see the GBPUSD falling to fresh lows.

However, watch the Stochastics on the 4-hour chart which could suggest a possible larger correction in the making.

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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