HomeContributorsTechnical AnalysisGBPUSD Triggers Recovery Higher With Eyes On Key Resistance

GBPUSD Triggers Recovery Higher With Eyes On Key Resistance

GBPUSD: The pair was seen triggering a recovery during early trading today following its price rejection on Friday. This leaves the pair targeting more strength in the days ahead possibly towards the 1.3278 zone. On the downside, support lies at the 1.3100 level where a break will turn attention to the 1.3050 level. Further down, support lies at the 1.3000 level. Below here will set the stage for more weakness towards the 1.2950 level. Conversely, resistance stands at the 1.3200 levels with a turn above here allowing more strength to build up towards the 1.3250 level. Further out, resistance resides at the 1.3300 level followed by the 1.3350 level. On the whole, GBPUSD continues to face further upside pressure on recovery.

FXAssure
FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

Featured Analysis

Learn Forex Trading