The
GBP/USD has been in a good bullish trend since it took off from the 1.2000 zone
approximately one year ago. On the way up the pair has performed some bearish
pullbacks as shown on the weekly chart, but in general terms the trend has been
bullish and stays strong. The 55 week exponential moving average has changed
its direction to the upside and keeps a good angle of inclination. The 1.3800
zone could act as resistance for the GBP/USD, but if it breaks that level to
the upside, it could go and visit the 1.4000 zone where we can also find the
200 week exponential moving average. To the downside, in case of a bearish
correction, the same 55 week EMA may act as support.
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Seems like 1.38 could do the trick.
ReplyDeleteThe pair comes to a key level.
ReplyDeleteI completely agree with your analysis.
ReplyDeleteLet's see how high it will rally.
ReplyDeleteGood article.
ReplyDeletePound is consolidating its gains.
ReplyDeleteExcellent information to keep in mind.
ReplyDeleteGreat take on markets!
ReplyDelete