GBP/USD Price Analysis: Cable pushes higher but watch out for the resistance
|- GBP/USD is trading higher on Thursday as the US dollar sells off across the board.
- There is a resistance zone and a trendline quite close by that the bulls will need to watch out for.
GBP/USD Daily Chart
Cable is pushing higher today and trades over half a per cent in the black.
The price is headed to a resistance zone that is marked in red on the chart at 1.2966.
This is interesting as the price broke the consolidation low four sessions ago.
There had been rumours that the Bank of England would copy the Fed with an emergency cut but this never transpired.
The psychological 1.30 could also be important and I am sure the bulls will be watching these resistances closely.
Another sticky point could be the trendline at the top of the chart but the other zones are up first.
-637190318323834764.png){kind=link}
Additional Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.