GBPUSD Consolidating After A Rally

 

The British pound has been trading flat since late March. Prices are caught within the range of 1.2485 and 1.2277.

A breakout from this channel is likely to occur in the near term.

Given the upside bias prior to this range, we expect a breakout above this level for the gains to continue.

The price level at 1.2858 level will be the next target in question.

Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). ...

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