GBPUSD price analysis: British pound meets resistance at 1.2700

14 June 2019, OctaFX – The British pound is once again testing towards the 1.2660 level against the US dollar after suffering another strong rejection from the 1.2700 resistance level.

GBPUSD technical analysis

Bulls are struggling to keep the GBPUSD pair above the 1.2700 level, with sellers holding the upper hand while price trades below this key level. Overall, a sustained break above the 1.2710 level may inspire another technical test towards the 1.2750 resistance area.

  • GBPUSD price is only bullish while trading above the 1.2700 level, key resistance is located at the 1.2710 and 1.2750 levels.

  • GBPUSD price is only bearish while trading below the 1.2700 level, key intraday support remains at the 1.2665 and 1.2630 levels.

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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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