The GBP/USD pair is currently trading at a significant resistance zone. This level is noteworthy because it has historically been a point of strong selling and because technical indicators are approaching the overbought region.
Additionally, considering the likelihood of the DXY reacting from support, a strengthening of the dollar could lead to a corrective move in GBP/USD. If the pair struggles to break through this resistance zone, an initial correction towards lower support levels may be observed.
Additionally, considering the likelihood of the DXY reacting from support, a strengthening of the dollar could lead to a corrective move in GBP/USD. If the pair struggles to break through this resistance zone, an initial correction towards lower support levels may be observed.
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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.