HomeContributorsTechnical AnalysisGBPUSD Bears In Control

GBPUSD Bears In Control

The British pound is looking increasingly bearish against the US dollar, following a major technical rejection from the 1.3000 resistance level. Weakness below the 1.2870 level could see the GBPUSD pair tumbling towards the 1.2810 or 1.2770 support zones. Overall, a breakout above the 1.3060 level is needed to confirm that the short-term trend in the GBPUSD pair is no longer bearish.

The GBPUSD pair is only bearish while trading below the 1.3060 level, key support is found at the 1.2810 and 1.2770 levels.

The GBPUSD pair is only bullish while trading above the 1.3060 level, key resistance is found at the 1.3100 and 1.3150 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