Wed, Jun 23, 2021 @ 02:07 GMT

GBPUSD On The Move

The British pound has had an extremely lively European trading session against the US dollar, with the pair staging a strong recovery back towards the 1.2480 level. Better than expected UK retail sales data has helped boost sentiment, while cross-pair flows are also helping to boost the GBPUSD pair. Buyers may now test back towards the 1.2530 level if the rally continues to gather pace.

The GBPUSD pair is bullish while trading above the 1.2440 level, key resistance is located at the 1.2480 and 1.2530 levels.

If the GBPUSD pair fails around the 1.2480 level, key support is found at the 1.2440 and 1.2410 levels.

Octa Markets Incorporated is a forex broker recognized worldwide. OctaFX provides forex brokerage services to its clients in over 100 countries around the world. OctaFX uses the most up-to-date technology and knowledge to make your forex trading experience incredibly convenient. Our top goal is the trust and satisfaction of each client's needs and requirements. OctaFX sets the highest service level standards and maintains them, as well as constantly developing new services and promotions.

Featured Analysis

Learn Forex Trading