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GBPUSD analysis - British pound increasingly bullish above 1.2730

OctaFx | Jun. 25, 2019
GBPUSD analysis - British pound increasingly bullish above 1.2730

25 June 2019, OctaFX – After slipping back towards the 1.2700 level in early week trade, the British pound has continued to rise against the US dollar during the US trading session, with the pair advancing towards the 1.2780 level.

GBPUSD price technical analysis

A sustained move above the 1.2780 resistance level will likely accelerate technical buying interest beyond the 1.2800 level. Sellers need to maintain price under the 1.2730 level to shift the current intraday bullish bias towards the GBPUSD pair.

  • GBPUSD price is only bullish while trading above the 1.2730 level, key resistance is found at the 1.2780 and 1.2840 levels.

  •  If GBPUSD price trades below the 1.2730 level, key support is found at the 1.2710 and 1.2660 levels.

British pound bullish, GBPUSD price, GBPUSD analysis

Disclaimer

This article was provided by OctaFX. It should NOT 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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