Forecast Overview:
The price is currently around 1.29545.
A support level has been established near 1.29000.
A resistance area is identified around 1.30500.
The price is expected to test the support level before making a bullish move toward the resistance area.
Potential Scenarios:
1. Bullish Scenario (Likely Outcome Based on Analysis):
If GBP/USD respects the 1.29000 support level and shows bullish momentum, it could rise toward the 1.30500 resistance zone.
A confirmed breakout above 1.30500 may signal further upside potential.
2. Bearish Scenario (Less Likely but Possible):
If GBP/USD fails to hold 1.29000, it could break below and initiate a downward movement.
The next potential downside target would be around 1.28500 or lower.
Conclusion:
The forecast suggests a bullish movement, with GBP/USD likely moving toward 1.30500 in the short term. However, traders should monitor support levels and market conditions to confirm momentum before taking positions.
The price is currently around 1.29545.
A support level has been established near 1.29000.
A resistance area is identified around 1.30500.
The price is expected to test the support level before making a bullish move toward the resistance area.
Potential Scenarios:
1. Bullish Scenario (Likely Outcome Based on Analysis):
If GBP/USD respects the 1.29000 support level and shows bullish momentum, it could rise toward the 1.30500 resistance zone.
A confirmed breakout above 1.30500 may signal further upside potential.
2. Bearish Scenario (Less Likely but Possible):
If GBP/USD fails to hold 1.29000, it could break below and initiate a downward movement.
The next potential downside target would be around 1.28500 or lower.
Conclusion:
The forecast suggests a bullish movement, with GBP/USD likely moving toward 1.30500 in the short term. However, traders should monitor support levels and market conditions to confirm momentum before taking positions.
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.