Mon, Mar 01, 2021 @ 16:11 GMT
Home Contributors Technical Analysis GBPUSD Bolling Band Resistance

GBPUSD Bolling Band Resistance

The British pound is trading at its highest level since April 2018 US dollar, following news that British Prime Minister Boris Johnson is outlining a step to take the UK out of lockdown. The GBPUSD pair has staged a bullish breakout from an extremely large rising price channel around the 1.4000 resistance level. The weekly time frame shows that the GBPUSD pair faces upcoming resistance from the Upper Bolling Band, around the 1.4130 price zone.

The GBPUSD pair is only bullish while trading above the 1.4000 level, key resistance is found at the 1.4130 and the 1.4150 levels.

If the GBPUSD pair trades below 1.4000, sellers may test the 1.3930 and 1.3850 support levels.

OctaFXhttp://www.octafx.com/?refid=871837
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