GBPUSD Maintains A Steady Hold On The Upside

Monday, 01/06/2020 | 08:31 GMT

Disclaimer

The GBPUSD currency pair is near a two-week high.

After clearing the price level near 1.2277, price action is having an upside bias.

The next target is at 1.2424, marking a strong resistance level from earlier attempts.

As a result, GBPUSD might settle into a sideways range. A close above 1.2424 will, of course, mark a full recovery from the slump which began in early May this year.

The declines to the downside are limited for now, as long as 1.2277 holds up.

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Source: https://www.orbex.com/blog/en/2020/06/gbpusd-maintains-steady-hold-on-the-upside

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