GBPUSD ANALYSIS
*GBP/USD Analysis*
The GBP/USD pair has regained the 1.2600 level, driven by the US Dollar's weakness. This weakness is due to:
- Risk appetite: Investors are becoming more confident and taking on more risk.
- Ukraine conflict: A potential truce in the Ukraine conflict is also contributing to the US Dollar's weakness.
However, the pair's upside is limited by:
- Looming US tariffs: The US is planning to impose tariffs on Canadian and Mexican imports, as well as Chinese goods.
- Geopolitical updates: Ongoing tensions between the US and other countries are also limiting the pair's upside.
*Resistance and Support Levels*
The pair is facing resistance at:
- 1.2600: A key psychological level.
- 1.2650: The 100-day Simple Moving Average (SMA).
- 1.2700-1.2710: A key resistance zone.
The pair has support at:
- 1.2560: The 100-period SMA and a Fibonacci retracement level.
- 1.2500: A key psychological level.
- 1.2475: The 200-period SMA and a Fibonacci retracement level.
The GBP/USD pair has regained the 1.2600 level, driven by the US Dollar's weakness. This weakness is due to:
- Risk appetite: Investors are becoming more confident and taking on more risk.
- Ukraine conflict: A potential truce in the Ukraine conflict is also contributing to the US Dollar's weakness.
However, the pair's upside is limited by:
- Looming US tariffs: The US is planning to impose tariffs on Canadian and Mexican imports, as well as Chinese goods.
- Geopolitical updates: Ongoing tensions between the US and other countries are also limiting the pair's upside.
*Resistance and Support Levels*
The pair is facing resistance at:
- 1.2600: A key psychological level.
- 1.2650: The 100-day Simple Moving Average (SMA).
- 1.2700-1.2710: A key resistance zone.
The pair has support at:
- 1.2560: The 100-period SMA and a Fibonacci retracement level.
- 1.2500: A key psychological level.
- 1.2475: The 200-period SMA and a Fibonacci retracement level.
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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.
Free Forex signals & Daily updates 💹
t.me/+D1falYavqJAxMzE0
For any assistance contact us 🤓
t.me/Travis_816
Join Us Today On Telegram 👆👆
t.me/+D1falYavqJAxMzE0
For any assistance contact us 🤓
t.me/Travis_816
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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.