Trading news

GBPUSD Edges Higher Towards 1.3000

The British pound sterling continues with this bullish streak. Price action is now close to the 1.3000 handle which could potentially open the way to 1.3122 next.

To the downside, support is found at 1.2813 which could stall the currency pair from further declines. But ahead of the Fed meeting, the pound sterling could see some volatility.

Only a strong close below 1.2813 could signal a move even lower. The next lower support is at 1.2643 level.

For the moment, we expect the cable to potentially settle above the 1.3000 handle in the near term.

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Wednesday, 29 Jul, 2020 / 1:28

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Source : https://www.orbex.com/blog/en/2020/07/gbpusd-edges-higher-towards-1-3000

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