Hello everyone, I’m back with a fresh analysis on GBP/USD!
Today, GBP/USD is trading more steadily above 1.299, reaching a new weekly high during Wednesday’s session. The pair is benefiting from a positive shift in risk sentiment, following a bullish Wall Street opening, which has made it difficult for the US Dollar (USD) to gain traction.
Looking ahead, the bullish outlook remains solid. However, GBP/USD needs to break above the mentioned high to further extend its upward momentum. On the other hand, a pullback to test the 34 & 89 EMAs, which are acting as key support levels, could provide a solid foundation for the continuation of the uptrend.
Today, GBP/USD is trading more steadily above 1.299, reaching a new weekly high during Wednesday’s session. The pair is benefiting from a positive shift in risk sentiment, following a bullish Wall Street opening, which has made it difficult for the US Dollar (USD) to gain traction.
Looking ahead, the bullish outlook remains solid. However, GBP/USD needs to break above the mentioned high to further extend its upward momentum. On the other hand, a pullback to test the 34 & 89 EMAs, which are acting as key support levels, could provide a solid foundation for the continuation of the uptrend.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.