GBP/USD
Looking at GBPUSD Chart, we can see the reversal of the month-long downtrend taking place on the 17th of May where it rebounded from its 1.22 support level and rallied well into the 1.245 regions, where it encountered some resistance, causing a retraction to the 1.235 on the 19th of May. From there it managed to climb further, attempting to break out from the 1.25 resistance and successfully making it through early in today’s session. It was last found trading at the 1.257 range.
Today we can expect an extension of the short-term trend and move close to the 1.261 overhead resistance level.
If, however, it doesn’t manage to hold on to the current level, then we could expect a move close to the 1.235 closest support level.
Trading is risky. Information presented herein is not to be construed as a solicitation or an offer to buy or sell any Financial Instrument or to participate in any trading strategy. We also offer CFD products. 72.58%% of retail CFD accounts lose money. CFDs trading is risky and your entire capital might be at risk. Information presented herein is not to be construed as a solicitation or an offer to buy or sell any Financial Instrument or to participate in any trading strategy.
Recommended Content
Editors’ Picks
EUR/USD jumps towards 1.0600 as USD wilts amid risk rebound

EUR/USD is trading back above 1.0550,resuming its recovery towards 1.0600 in early Europe this Wednesday. The US dollar meets fresh supply as the risk rebound extends, despite looming recession fears. ECB Forum, US Durable Goods and Fedspeak eyed.
GBP/USD consolidates gains below 1.2300 amid weaker USD, Brexit woes

GBP/USD is holding onto the latest upside below 1.2300 in early European trading, The risk-on mood dents the US dollar's safe-haven appeal while the UK presses on with changes to the Brexit deal despite EU opposition. US data awaited.
Gold bulls aim for $1,850 on Russia news, softer USD

Gold Price extends Friday’s recovery to $1,836 ahead of Monday’s European session. The precious metal’s upside moves could be linked to the softer US dollar, as well as chatters surrounding a ban on gold imports from Russia.
SEC vs. Ripple: Brad Garlinghouse announces expansion out of the US if outcome is unfavorable

XRP will expand out of the US if the payment giant faces a loss in the lawsuit. The community awaits the court's ruling on his speech and related documents. Analysts remain bullish on Ripple price
FXStreet Premium users exceed expectations
_XtraSmall.png)
Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!