HomeForex UpdatesGBP/USD Pair Started a Steady Increase above $1.3200

GBP/USD Pair Started a Steady Increase above $1.3200

The British Pound started a steady increase above the 1.3200 resistance zone against the US Dollar. The GBP/USD pair even broke the 1.3250 level.

It even spiked above the 1.3280 level and settled above the 50 hourly simple moving average. The pair traded as high as 1.3298 before correcting lower. An initial support on the downside is near the 1.3275 and a bullish trend line on the hourly chart.

The main support is forming near the 1.3250 level. A break below the 1.3250 support could even push the pair below the 1.3200 support.

An immediate resistance is near 1.3290 on FXOpen. Any more gains might push the pair towards the 1.3320 level, where the pair might face resistance. If there is a clear upside break, the pair could rise steadily towards the 1.3350 level in the near term.

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