Pair GBPUSD managed to climb to 1.32000 yesterday and test this level but made a new pullback after that, and we are now at 1.31300. We could find potential support at 1.31000 because MA20 and MA50 moving averages are waiting for us as additional support. If GBPUSD makes a new break above, it could form an inverted Head & Sholders pattern on the chart. Then we would need a jump to 1.32750-1.33000, which would first confirm the break and then we need a retest to confirm the continued continuation of the bullish pound recovery. Then there would be a chance to see GBPUSD in the zone around 1.34000 and MA200 moving average by the end of the month. For the bearish option, we need a continuation of the current bearish trend and a retreat below 1.31000. If that happened, we would probably visit this year's minimum in the zone around 1.30000.
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.
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.