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GBPUSD analysis - British pound recovers above 1.3000

OctaFx | May. 10, 2019
GBPUSD analysis - British pound recovers above 1.3000

10 May 2019, OctaFX – In this GBPUSD analysis, the British pound has recovered above the 1.3000 level against the US dollar as traders await the release of GDP data from the United Kingdom economy later this morning.

GBPUSD technical analysis

The GBPUSD pair has so far found weekly support from the 1.2966 level and only has an intraday bullish bias while trading above the 1.3064 level. If sellers move the GBPUSD pair back under the 1.2990 level the GBPUSD is likely to test back towards the current monthly low.

  • The GBPUSD pair is bullish while trading above the 1.3064 level, key resistance is found at the 1.3100 and 1.3130 levels.

  • If the GBPUSD pair trades below the 1.2990 level, key intraday support is found at the 1.2966 and 1.2910 levels.

GBPUSD analysis,  British pound recovers

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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