HomeContributorsTechnical AnalysisGBP/USD Attempts To Recover After A Pullback

GBP/USD Attempts To Recover After A Pullback

The GBPUSD currency pair is looking somewhat bullish after the initial pullback looks to be complete.

Price action fell back to the price level of 1.2277 after a brief rise initially.

The current recovery will confirm the potential upside for the currency pair.

We expect GBPUSD to rise to 1.2424 in the near term. This will push prices up to the 8 th of May highs.

Further gains will likely happen only on a breakout above this level.

In the meantime, we expect GBPUSD to remain in a holding pattern within these new levels.

Orbex
Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading