GBPUSD (1H) - intraday bullish bias
The pound sterling is trading sideways between major levels of 1.2820 and 1.2920. Market's indecision is likely to last until a breakout shows the next direction. As the RSI indicator hovered over the over-sold area, the price found enough buying interest to pull back. If 1.2820 holds well, we would expect a short-term rally towards the psychological level of 1.2900. Without solid catalyst the cable is unlikely to make a breakthrough any time sooner though.
Key support: 1.2820
Key resistance: 1.2900
The pound sterling is trading sideways between major levels of 1.2820 and 1.2920. Market's indecision is likely to last until a breakout shows the next direction. As the RSI indicator hovered over the over-sold area, the price found enough buying interest to pull back. If 1.2820 holds well, we would expect a short-term rally towards the psychological level of 1.2900. Without solid catalyst the cable is unlikely to make a breakthrough any time sooner though.
Key support: 1.2820
Key resistance: 1.2900
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.