GbpUsd Long idea
We observe that GBP/USD has penetrated the
three moving averages (21-50-200) last week
and surged significantly, driven by a
substantial influx of buyers. This has pushed
GBP/USD even higher, breaking through the
level depicted in blue as new buyers entered, making it a new buying area. Despite forming
multiple highs and lows, a correction ensued
due to the exit of some buyers, who took
profits. GBP/USD has retraced to a demand
level and remains above the 200-day moving
average. My expectation for the upcoming
week is an upward movement in GBP/USD to
the level of 1.2795. If it surpasses this level, I
anticipate a continuation of the uptrend
towards 1.290-1.300.
three moving averages (21-50-200) last week
and surged significantly, driven by a
substantial influx of buyers. This has pushed
GBP/USD even higher, breaking through the
level depicted in blue as new buyers entered, making it a new buying area. Despite forming
multiple highs and lows, a correction ensued
due to the exit of some buyers, who took
profits. GBP/USD has retraced to a demand
level and remains above the 200-day moving
average. My expectation for the upcoming
week is an upward movement in GBP/USD to
the level of 1.2795. If it surpasses this level, I
anticipate a continuation of the uptrend
towards 1.290-1.300.
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.