By Orbex
The British pound sterling is seen giving back the gains made on Tuesday. This puts price action to trade rather flat but increases the downside bias.
On the short term charts, the formation of a lower high indicates that the pound sterling could push lower.
However, prices will contend with the initial support level near 1.3506. As long as this level holds, there is scope for the GBPUSD to make gains.
However, if prices close below this level convincingly, then there is scope for a continuation to the downside.
Free Reports:
This will bring the sideways range of 1.3500 and 1.3100 back into focus.
By Orbex
By Christopher Decker, University of Nebraska Omaha The Federal Reserve held interest rates steady at…
By JustMarkets At Tuesday's close, the Dow Jones Index (US30) added 0.23%, while the S&P 500 Index (US500) was…
By RoboForex Analytical Department Brent crude oil prices have dropped to $83.95 per barrel on…
By ForexTime USDJPY sees over 700-pip swing Copper selloff rewards bears EURCAD hits all bearish targets…
By Selcuk Uluagac, Florida International University You probably know better than to click on links…
By Denisa Mindruta, HEC Paris Business School “This isn’t mine; this is one for the…
This website uses cookies.