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GBPUSD Shifts To A Bullish Bias

May 27 2020, 02:13 PM (BDT) | Orbex.com

gbpusd

The GBPUSD currency pair is up almost 1.3% intraday.

The gains follow after the technical bullish resistance which formed in the previous sessions.

This is validated with prices breaking past the technical resistance level of 1.2277.

The next upside target could be at 1.2424. However, a pullback to 1.2277 level to form technical support will further validate this view.

Expect to see some consolidation take place or the upside bias diminishing if the 1.2277 level fails.

This could potentially push the GBPUSD back to the downside.

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