GBP/USD Rallies On Price Follow Through


rallied on Thursday as it followed through higher on the back of its Wednesday gain. Support lies at 1.2350 area with a break below that level turning attention to the 1.2300 level. Further down, support lies at the 1.2250 level where a violation will shift focus to the 1.2200 level. Below here will open the door towards the 1.2150 level. On the upside, resistance is located at the 1.2450 with a break above there allowing for morel strength to build up toward the 1.2500 level. Further out, resistance stands at the 1.2550 level followed by the 1.2600 level. On the whole, GBP/USD retains its corrective upside pressure.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link