By Orbex
The British pound sterling is posting strong gains on the back of a weaker dollar. After price action consolidated above the 1.3300 level, the cable is attempting to push higher.
For the moment, prices are stuck near the trend line. As long as the trend line holds as resistance, we could see the sideways consolidation to continue.
However, in the event of a breakout off the trend line, then the GBPUSD will be aiming for the 1.3500 level next.
For the moment, with the support level firmly established at 1.3300, the GBPUSD will be looking to make further gains to the upside.
Free Reports:
By Orbex
By JustMarkets On Tuesday, the US stock market concluded the session with a slight decline.…
By Analytical Department RoboForex GBP/USD rose to 1.3450 on Wednesday. Expectations of de-escalation in the…
By Leonardo Macelloni, University of Mississippi You may be hearing a lot lately about critical…
By JustMarkets The US stock market concluded Monday’s session with gains. By the end of…
By Analytical Department RoboForex EUR/USD is trading around 1.1608 on Tuesday. The US dollar attempted…
By Michael Klein, Tufts University The “fog of war” refers to confusion and uncertainty on…
This website uses cookies.