GBP/USD continues its uptrend at 1.2500
Hello everyone, this is my general overview of GBPUSD. Let's follow along and discuss together!
Overall, GBPUSD continues to trade within a stable uptrend channel on the 1-week timeframe.
Despite decreasing volume, the likelihood is still reinforced by the technical signal of the EMA 34,89, which is currently acting as a driving force for this currency pair. GBPUSD is currently receiving strong support around the levels of 1.2600-1.2550, 1.2500. Breaking below these levels signifies a significant decrease, while maintaining them will lead to price increase. It is expected that the price will recover after the correction phase and touch the upper limit of the upward channel and EMA 34,89.
Overall, GBPUSD continues to trade within a stable uptrend channel on the 1-week timeframe.
Despite decreasing volume, the likelihood is still reinforced by the technical signal of the EMA 34,89, which is currently acting as a driving force for this currency pair. GBPUSD is currently receiving strong support around the levels of 1.2600-1.2550, 1.2500. Breaking below these levels signifies a significant decrease, while maintaining them will lead to price increase. It is expected that the price will recover after the correction phase and touch the upper limit of the upward channel and EMA 34,89.
Trade active
Trade active
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Trade active
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