January 8, OctaFX – The British pound continues to edge higher against the US dollar in early Tuesday trade, as buyers test towards the 1.2800 resistance level.
GBPUSD Technical Forecast
If buyers can break above the 1.2810 resistance level, the GBPUSD pair could eventually rally towards the 1.2930 level. Technical failure before the 1.2810 resistance level will likely trigger heavy selling back towards the 1.2660 level.
- The GBPUSD pair is only intraday bullish while trading above the 1.2740 level, key technical resistance is now found at the 1.2810 and 1.2850 levels.
- If the GBPUSD pair trades under the 1.2740 level, sellers are likely to test the 1.2700 and 1.2660 levels.
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