The key immediate resistance to watch remains at 1.2800, while bears could look towards the key 200-day MA support at 1.2580.
On frame D1, GBP/USD buyers are testing the 1.2700 area, but mixed market sentiment weakens the upward momentum, causing the pair to not be able to exit the accumulation state. The pair has broken through important resistance zones, so even if the pair corrects, as long as the price remains above 1.2700, the uptrend will persist.
On frame D1, GBP/USD buyers are testing the 1.2700 area, but mixed market sentiment weakens the upward momentum, causing the pair to not be able to exit the accumulation state. The pair has broken through important resistance zones, so even if the pair corrects, as long as the price remains above 1.2700, the uptrend will persist.
Note
SELL GBPUSD 1.2740TP1: 1.2700
TP2: 1.2650
SL: 1.2800
Note
running + 20 pips
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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.