GBPUSD analysis – British pound stages solid rebound above 1.2500

25 July 2019, OctaFX – The British pound staged a solid rebound above the 1.2500 level against the US dollar on Wednesday, after bears failed to hold price below the 1.2440 level.

GBPUSD technical analysis

The GBPUSD pair could start to test towards at least the 1.2600 level if bulls break through the 1.2525 resistance later today. Sellers need to hold price below the 1.2480 level to change the intraday sentiment towards the GBPUSD pair.

  • The GBPUSD pair is only bullish while trading above the 1.2480 level, key resistance is located at the 1.2525 and 1.2600 levels.

  • If the GBPUSD pair holds below the 1.2480 level, key support is found at the 1.2460 and 1.2430 levels.

A close up of a wire fence
                            Description automatically generated


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.

Share Your Opinion, Write a Comment