GBPUSD eyes key resistance zone located at the 1.3200/16 zone. This is coming on the back of its two-day strength on Thursday and Friday. Resistance stands at the 1.3150 level. A turn above here will allow for more strength to build up towards the 1.3050 level. Further out, resistance stand at the 1.3100 level followed by the 1.3150 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 1.2900 level where a break will turn focus to the 1.2850 level. Further down, support lies at the 1.2800 level. Below here will set the stage for more decline towards the 1.2750 level. On the whole, GBPUSD remains biased to the upside in the short term.
Leave A Comment