Forex Trading Library

GBPUSD 2018-07-26

By Rami Abu-Draa Last updated Oct 31, 2021

British pound managed to test support 1.3070-80 last Monday where managed to advance and closed today from target 1.3250

As we see over the chart the downtrend line is around 1.3230-50 now while as long as market holding above 1.3150 the chance for more advance to test 1.3230-50 is available

Below 1.3150 the market may face more downtrend pressure to head to test 1.3000 zone

Above 1.3250 market may add more atrength to threat the 1.3360-80 resistance zone

	Support	Resistance
Level 1	1.3150-60	1.3230-50
Level 2	1.3070	1.3360-80
Level 3	1.3000	1.3460

Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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