GBPUSD overview and long-term strategy
Updated
Dear friends, breaking free from the upward trend has caused a significant decrease in GU. At the time of writing, GU has temporarily halted trading at 1.2117 and is showing sideways movement above the support level of 1.2000.
In the short term, we still view the decline of GU positively. As the prolonged trend continues without any signs of reversal, the resistance level of 1.2333 remains a concern for this currency pair. It is anticipated that this decline may lead to a breakthrough below the current support level of 1.1801, pushing GU to seek lower support at 1.0928. As long as this currency pair continues to trade below the resistance level of 1.2333, the risk of price decline will persist.
What is your long-term perspective? Do you agree with me?
In the short term, we still view the decline of GU positively. As the prolonged trend continues without any signs of reversal, the resistance level of 1.2333 remains a concern for this currency pair. It is anticipated that this decline may lead to a breakthrough below the current support level of 1.1801, pushing GU to seek lower support at 1.0928. As long as this currency pair continues to trade below the resistance level of 1.2333, the risk of price decline will persist.
What is your long-term perspective? Do you agree with me?
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