GBPUSD Establishes Resistance At 1.3122

Tuesday, 25/08/2020 | 13:51 GMT

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The British pound sterling briefly tested the price level near 1.3122.

Price action was rejected, and this resulted in a strong bearish candlestick.

The current declines could see GBPUSD testing the lower support at the 1.3000 region.

We also have a rising trend line that could act as dynamic support in the short term.

However, for now, GBPUSD could settle into the range between 1.3122 and 1.3000.

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Source: https://www.orbex.com/blog/en/2020/08/gbpusd-establishes-resistance-at-1-3122

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