The British pound is near significant resistance

The  GBP/USD pair restrained steadily against the backdrop of the US dollar sale, returning to the upper border of the weekly side channel. In conditions of maintaining a general downtrend, this may indicate a signal for a reversal and resumption of decline.

A resumption of the decline should be expected when the pair returns below the zone of 1.2150-40.

Resistance is located at 1.2170 and 1.2200, consolidation above which cancels expectations for a decline. The resumption of the decline in the pound will open the way to support levels: 1.2100 and 1.2070.

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Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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