Similar to EUR/USD, GBP/USD experienced a strong rally starting in March, breaking above the key resistance level in the 1.2775 zone.
Over the past three days, the pair has consolidated well above the broken resistance level, suggesting that another upward spike is likely.
However, the 1.30 level is both a significant technical and psychological barrier. If the price reaches this zone, a correction could follow.
In conclusion, I’m closely watching the pair, and if we see a spike toward 1.30, I will look for selling opportunities.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Over the past three days, the pair has consolidated well above the broken resistance level, suggesting that another upward spike is likely.
However, the 1.30 level is both a significant technical and psychological barrier. If the price reaches this zone, a correction could follow.
In conclusion, I’m closely watching the pair, and if we see a spike toward 1.30, I will look for selling opportunities.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.