Longer-term indicators for the GBPUSD pair are now starting to turn bullish. What next should traders expect? Analysts at OctaFX shared their 23 August GBPUSD Technical Forecast.
23 August, OctaFX – The British pound continues to recovery against the US greenback as the US dollar index remains under heavy selling pressure across.
Longer-term indicators for the GBPUSD pair are now starting to turn bullish, with the RSI and MACD indicators starting to turn up on the weekly time frame after weeks of declines.
23 August GBPUSD Technical Forecast
- The GBPUSD pair is bullish while trading above the 1.2900 level, key resistance is now found at the 1.2958 and 1.3010 levels.
- If the GBPUSD pair trades below the 1.2900 level, key intraday support is found at the 1.2844 and 1.2775 levels.
This article about 23 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.