25 July GBPUSD Technical Analysis: Further upside is expected above 1.3155


Cable stabilized on Wednesday after hitting an intraday low of 1.3076. GBPUSD now trades at 1.3148, where it was little changed. What is next? Gain insight into this 25 July GBPUSD Technical Analysis.

25 July, OctaFX – The British pound continues to press higher against the greenback on Wednesday, with short-term bulls retaining control of the GBPUSD pair.

Further intraday upside now seems likely if buyers can sustain the price above the key 1.3155 resistance level. The 1.3205 level remains a major target for sterling bulls, while sellers will look to take back short-term of the GBPUSD pair below the 1.3080 level.

25 July GBPUSD Technical Analysis

  • The GBPUSD pair is strongly bullish while trading above the 1.3155 level, key resistance is found at the 1.3205 and 1.3235 levels.
  • If the GBPUSD pair falls below the 1.3100 level, key support is found at the 1.3080 and 1.3050 levels.

Disclaimer

This article about 25 July GBPUSD Technical Analysis 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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