22 August GBPUSD Technical Forecast: Pair faces strong resistance from 1.2958 level


The GBPUSD pair faces strong resistance from 1.2958 level. However, what should buyers expect next? This is highlighted in today’s 22 August GBPUSD Technical Forecast.

22 August, OctaFX – The British pound has advanced to its best trading level in over two weeks against the greenback, over broad-based weakness in the US dollar index.

The GBPUSD pair now looks set to challenge the key 1.2958 resistance level, if buyers can maintain the bullish momentum above the 1.2887 level. Key extended intraday support is currently found at the 1.2844 level.

22 August GBPUSD Technical Forecast

  • The GBPUSD pair is strong bullish while trading above the 1.2887 level, key resistance is now found at the 1.2958 and 1.3000 levels.
  • If the GBPUSD pair trades below the 1.2887 level, key intraday support is found at the 1.2844 and 1.2775 levels.

Disclaimer

This article about 22 August GBPUSD Technical Forecast 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.

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