GBPUSD drops back to retest breakout level

The Pound sterling gave back some of the gains from late last week into Friday’s close.

GBPUSD was down 0.82% on the day as price settled near 1.2487.

This drop marks a retest of the breakout level which served as resistance.

A retest of this level for support could see price action to regain the bullish momentum.

The upside target at 1.2686 will be the next level of interest for buyers.

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