March 7, OctaFX – The British pound is continuing to stage a recovery against the US dollar in early Thursday trade with the pair edging closer to the 1.3200 resistance level.
GBPUSD analysis: Pair is intraday bullish above 1.3170
If GBPUSD buyers can force price above the 1.3200 level, we should expect a test of the pivotal 1.3230 level. Technical indicators on the four-hour time frame suggest that the intraday recovery is gathering bullish momentum.
The GBPUSD pair is intraday bullish while trading above the 1.3170 level, key technical resistance is found at the 1.3200 and 1.3230 levels
If the GBPUSD pair trades below the 1.3170 level, sellers may test towards the 1.3155 and 1.3130 support levels.
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