The Sterling is holding steady above the 1.3200 level ahead of Thursday’s FOMC Minutes. What is next? Find out in the following 5 July GBPUSD Technical Forecast from OctaFX.
5 July, OctaFX – The British pound has moved to a fresh monthly trading-high against the US dollar, hitting 1.3248, as the trading sentiment surrounding the GBPUSD pair continues to improve.
The GBPUSD pair performed a bullish daily price-close above the 1.3205 level, with price remaining well above the weekly opening-price. GBPUSD traders now look to a scheduled speech from Bank of England Governor Mark Carney this morning, and the release of the US ADP jobs report later today.
5 July GBPUSD Technical Forecast
- The GBPUSD pair remains bullish while trading above the 1.3205 level, key resistance is found at the 1.3248 and 1.3300 levels.
- If the GBPUSD pair trades below the 1.3205 level, key technical support is found at the 1.3194 and 1.3170 levels.
This article about 5 July 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.