HomeContributorsTechnical AnalysisGBPUSD - Strengthens, Risk Builds Up On 1.2673/1.2700 Zone

GBPUSD – Strengthens, Risk Builds Up On 1.2673/1.2700 Zone

GBPUSD – GBP was seen building up on its Tuesday bullish price action during Wednesday trading session today. This development has left the pair targeting its key upside targets seen at 1.2673/1.2700 zone. Support lies at the 1.2600 level where a break will turn attention to the 1.2550 level. Further down, support lies at the 1.2500 level. Below here will set the stage for more weakness towards the 1.2450 level. Conversely, resistance stands at the 1.2700 levels with a turn above here allowing more strength to build up towards the 1.2750 level. Further out, resistance resides at the 1.2800 level followed by the 1.2850 level. On the whole, GBPUSD threatens further upside pressure.

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.

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