Trend Overview
The GBP/USD currency pair maintains a bullish trend, with recent price action confirming a breakout above the previous consolidation zone.
Key Levels & Scenarios
Support: 1.3050 (previous consolidation range)
A bullish bounce from this level could sustain the rally.
Upside targets: 1.3240, followed by 1.3270 and 1.3300 over the longer term.
Bearish Breakdown Scenario:
A daily close below 1.3050 would invalidate the bullish outlook.
Downside targets: 1.3010, followed by 1.2960 and 1.2910.
Indicators & Market Sentiment
Momentum indicators support the bullish bias, but price action needs to hold above 1.3050.
Volume confirms buying interest, reinforcing the breakout potential.
Conclusion
As long as 1.3050 holds as support, GBP/USD remains in a bullish structure, targeting 1.3240 and beyond. A break below 1.3050 would shift the focus toward 1.3010 and lower retracement levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The GBP/USD currency pair maintains a bullish trend, with recent price action confirming a breakout above the previous consolidation zone.
Key Levels & Scenarios
Support: 1.3050 (previous consolidation range)
A bullish bounce from this level could sustain the rally.
Upside targets: 1.3240, followed by 1.3270 and 1.3300 over the longer term.
Bearish Breakdown Scenario:
A daily close below 1.3050 would invalidate the bullish outlook.
Downside targets: 1.3010, followed by 1.2960 and 1.2910.
Indicators & Market Sentiment
Momentum indicators support the bullish bias, but price action needs to hold above 1.3050.
Volume confirms buying interest, reinforcing the breakout potential.
Conclusion
As long as 1.3050 holds as support, GBP/USD remains in a bullish structure, targeting 1.3240 and beyond. A break below 1.3050 would shift the focus toward 1.3010 and lower retracement levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.