Forex Trading Library

GBPUSD Closes the Week with Modest Gains

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The British pound sterling was trading bullish on Friday, recovering from the losses from the previous two days.

Price action made a decent turnaround from the 1.3122 level of support.

With the Stochastics also moving out from the oversold levels, the GBPUSD could be aiming for 1.3300 once again.

But only a strong breakout above 1.3300 will convince the markets of further upside.

Else, we could see the cable settling into a sideways range between the said levels for the moment.

The targets remain the same with 1.3000 as the downside support area if 1.3133 fails.

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

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