Chart of the Day GBP/USD

  • GBP/USD settled above the key resistance level at 1.2650 and continues its upside move. The nearest resistance for GBP/USD is located at 1.2755. In case GBP/USD manages to get above this level, it will gain additional upside momentum and head towards the test of the next resistance level at 1.30 handle,
  • In case GBP/USD moves below 1.2650, it will likely gain significant downside momentum and head towards the next support level at 1.2450. Such a move would signal that GBP/USD experienced another false breakout of the key resistance level.

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