Retest of "Mirror" Support on GBP/USD

Divergence on USD/CAD

The GBP/USD currency pair shows a pronounced uptrend. The British pound has overcome and consolidated above the key extremes. The current technical pattern signals further growth in quotes. The GBP/USD currency pair has fixed above the round level of 1.2800, which is already a "mirror" support. The nearest resistance is 1.2875. We recommend paying attention to this situation.

If the price fixes above the level of 1.2875, further growth in GBP/USD quotes is expected. The nearest goal for profit-taking is the level of 1.2950. The movement is tending to 1.3000-1.3050. Confirmations and market entry points should be looked for on lower timeframes. We recommend using a trailing stop when following positions.

by JustMarkets 2020.07.27

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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