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.
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