25 Nov

GBPUSD Tests The 1.3300 Support Level

November 25, 2020

By Orbex

gbpusd

The British pound sterling is failing to make further gains after clearing the 1.3300 level.

Price action continues to pullback as the GBPUSD is firmly testing the 1.3300 level for support.

As long as the support holds, the GBPUSD is biased to move to the upside.

The next key target will be the September 1st highs of 1.3483. For this to happen, GBPUSD will need to post higher highs.

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o the downside, if the cable loses the 1.3300 support, we could expect to see a brief decline.

But the trend line should act as dynamic support to keep prices from falling further.

By Orbex


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