4:12 PM · 28 October 2020

📉 Pound struggles to break through $1.30

GBPUSD launched today's session with a downward move, but the pair moved higher on upbeat headlines regarding Brexit negotiations. Looking at the M30 interval, GBPUSD bounced off the support at 1.2920. However the buyers did not manage to break above the 1.30 handle, which should be considered as a key resistance for now. According to the classical technical analysis, as long as the price sits below it, the downward move towards local lows remains the base case scenario. On the other hand, breaking above the aforementioned resistance, may open the way towards 1.3075 handle. GBPUSD M30 interval. Source: xStation

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