GBPUSD is about to retest a key horizontal resistance level near 1.2950. It has tested this level 7 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
Supports and resistances are primary concepts of technical analysis. GBPUSD is heading for an important price of 1.2950 – read about what this could mean for the future.
