6:52 PM · 9 December 2020

📈GBPUSD is testing key support

In the second half of the session, we can observe declines in the GBPUSD currency pair. Looking at the M30 interval, key intraday support is currently being tested. The pair is trading around 1.3360 level, which is marked with the lower limit of the 1: 1 structure, 61.8% Fibonacci retracement and the local trendline. Should buyers show up here, a move towards recent highs at 1.3475 is possible. Otherwise, a break below the support may trigger a bigger downward move towards 1.3290.

GBPUSD M30 interval. Source: xStation5

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