GBPUSD price analysis – British pound struggles to reclaim 1.2700


10 June 2019, OctaFX – The British pound is struggling to reclaim the 1.2700 level against the US dollar after yesterday’s much weaker set of data points from the UK economy.

GBPUSD technical analysis

However, dip-buying demand for sterling still remains present, with bulls still maintaining the upper-hand while price holds above the 1.2660 level. GBPUSD bulls are likely to place stops around the 1.2600 level ahead of today’s next round of UK data points.

  • GBPUSD price is only bullish while trading above the 1.2710 level, key resistance is located at the 1.2762 and 1.2817 levels.

  • GBPUSD price is only bearish while trading below the 1.2710 level, key intraday support remains at the 1.2680 and 1.2660 levels.

GBPUSD price analysis, GBPUSD price

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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