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13 February 2018

Forex Technical analysis

GBPUSD Intraday Technical Outlook

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GBPUSD intraday is bullish above 1.3892.  This latest 13 February GBPUSD Intraday Technical Outlook shows what happens should the pair's price-action slip back below that level. Read on!

13 February, OctaFX – The British pound has moved sharply higher against the U.S dollar during the European trading session, following the release of better than expected Core CPI inflation figures from the United Kingdom Economy. The GBPUSD pair has so far found intraday resistance around the 1.3920 level, with price-action testing back towards the 1.3900 region.

Sterling traders will now look towards the pivotal 1.3892 level for direction and the U.S dollar index, which is currently suffering heavy daily losses.

13 February GBPUSD Intraday Technical Outlook

  • The GBPUSD pair remains intraday bullish whilst trading above the 1.3892 level, further upside towards the 1.3939  and 1.4000 resistance levels appears possible.

    • Should GBPUSD price-action slip back below the 1.3892 level, we may see a downside correction back towards the 1.3832 and 1.3775 support levels.

      Disclaimer

      This article about 13 February GBPUSD Intraday Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

      Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

      GBPUSD Core CPI OctaFX

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