HomeContributorsTechnical AnalysisGBPUSD 1.2480 Upcoming Resistance

GBPUSD 1.2480 Upcoming Resistance

The British pound continues to recovery against the greenback after the pair found solid technical support from the key 1.2380 level. Sterling traders are now awaiting UK retail sales data, with better than expected numbers likely to provoke a strong test of the 1.2480 area. Worse than expect UK retail sales data may see the GBPUSD pair sold back towards the 1.2415 support level.

If the GBPUSD trades below the 1.2440 level, key support is located at the 1.2415 and 1.2380 levels.

If the GBPUSD pair holds above the 1.2440 level, key resistance is found at the 1.2480 and 1.2510 levels.

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

Featured Analysis

Learn Forex Trading