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HomeContributorsTechnical AnalysisGBP/USD Pair Is Correcting Higher Above 1.3250

GBP/USD Pair Is Correcting Higher Above 1.3250

FXOpen
By FXOpen

The British Pound faced sellers near the 1.3370 zone and declined against the US Dollar. The GBP/USD pair traded below the 1.3280 support zone.

It tested the 1.3200 support zone and settled below the 50 hourly simple moving average. The pair is now correcting higher and traded above 1.3250. It is now trading above the 1.3280 resistance zone.

An initial resistance on the upside is near the 1.3330. The main resistance is now forming near the 1.3370 level. If there is a clear break above the 1.3370 and 1.3400 resistance levels, the pair could climb higher towards 1.3500 on FXOpen.

An initial support on the downside is near the 1.3280 level. The main support is forming near the 1.3250 level. A break below the 1.3250 support level could even push the pair below the 1.3200 support.

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