The GBP/USD currency pair has recently extended its upward movement from a low of 1.2664, reaching as high as 1.3246.
What’s Next?
As long as the price stays within the rising price channel on the 4-hour chart, we can expect this upward trend to continue. The next target for this rally is around the 1.3350 area, and if the momentum holds, we could see it push towards the 1.3500 area.
Watch for Support Levels
- Potential Pullback: On the downside, if the price breaks below the channel support, it could drop back to test the support level at 1.3179.
- Critical Level: Should the price fall further below this level, it may aim for the 1.3070 area.
Conclusion
Monitoring these key levels is essential for making informed trading decisions. The GBP/USD pair shows promise for continued upside, but any significant breakdown could indicate a shift in momentum. Stay tuned for further developments!
by ForexInflux
No comments:
Post a Comment