GBPUSD found its footing on Thursday and set its sights above the psychological level of 1.300 after the currency pair successfully broke out of a multi-day descending price channel.
Currently, the price is fluctuating around the 1.294 area with a gentle correction. The pullback movement is seen as a price action to test the old breakout zone. The upward momentum will continue when GBPUSD receives support at the confluence zone between EMA 34, 89 and support. Combined with DOW theory to confirm the trend, price has successfully tested the 0.5 and 0.618 support levels and is now bullish. Therefore, the expected price increase is being implemented, with the projected high at 1.306, which is the 1.618 fibonacci level.
Currently, the price is fluctuating around the 1.294 area with a gentle correction. The pullback movement is seen as a price action to test the old breakout zone. The upward momentum will continue when GBPUSD receives support at the confluence zone between EMA 34, 89 and support. Combined with DOW theory to confirm the trend, price has successfully tested the 0.5 and 0.618 support levels and is now bullish. Therefore, the expected price increase is being implemented, with the projected high at 1.306, which is the 1.618 fibonacci level.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.