GBPUSD continues to form an uptrend, but at the same time the price is hitting a strong resistance area. We are waiting for the price to react to the area, which will determine the further direction. A retest of the level 1.28484 will tell us that the market will prepare to strengthen after breaking through resistance, but a consolation below the level will signal further decline to 1.26900.
In an uptrend, the price could test the resistance again in the near future. The dollar is in a range and a decline towards support will give the currency pair a jump to break through resistance.
The pound might continue to strengthen in the mid-term based on a more positive fundamental background than the dollar.
Support levels: 1.27267, 1.26800
Resistance levels: 1.28484
I expect an attempted retest to the resistance, which may give a further signal. It is necessary to monitor the price reaction to the upper limit of the range. It may be followed by a pullback before further growth.
Regards R.Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
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.