By Orbex
The British pound sterling is seen trading flat as the consolidation near the top end of the rally continues.
The cable has been in a strong volatile ride since late last year due to the Brexit trade talks. This has pushed the currency to test highs above 1.3650.
However, following the gains, price has been trading rather flat. On the short term charts, we see the consistent lower highs forming.
This could result in the descending triangle pattern likely to emerge. If the GBPUSD closes below the 1.3500 level of support, then we expect to see further declines lower.
Free Reports:
The cable will most likely move back within the sideways range of 1.3500 and 1.3150 levels.
By Orbex
By ForexTime Nvidia shares only ↑18% year-to-date Competition, data centre revenue and fiscal Q2 2027…
By JustMarkets On Tuesday, US stock indices continued to decline amid the ongoing sell‑off in…
By Analytical Department RoboForex EUR/USD slipped to 1.1598 on Wednesday, keeping the pair at its…
By JustMarkets On Monday, the US stock indices closed mixed amid ongoing uncertainty surrounding the…
By Analytical Department RoboForex Gold rose to 4,600 USD per ounce on Tuesday, continuing its…
By JustMarkets On Friday, US stock indices fell sharply amid growing investor concerns about the…
This website uses cookies.