GBPUSD Fails to Hold on to Gains Above 1.3000

0 26

The British pound sterling is down over 0.7% intraday as price failed to capitalize on the gains from earlier sessions.

As a result, GBPUSD is trading back below the 1.3000 handle.

A continuation to the downside could see a move back to the 1.2750 level.

But given the current scenario, we expect price action to remain range-bound and volatile.

A bearish close on the daily could potentially confirm further downside.

This will make the 1.2750 level of support a critical level.


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


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.