GBPUSD Testing August 2019 Lows

0 58

The cable is seeing renewed selling pressure.

Price action is looking to the downside after the break of the 1.2200 handle. Price is now close to the August 2019 lows of 1.2016.

A break down below this level could trigger further declines. However, we suspect some kind of rebound in the near term.

If not, expect 1.2000 as the next support of interest. Given the psychological importance of this level, we expect the support to hold.

Test your strategy on how the GBP will fare! Open your Orbex Account and start trading now. 

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.