GBPUSD: Testing the bullish channel again
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Overall, GBPUSD has experienced significant volatility, surpassing the 1.2755 level. It is currently trading at a new high of 1.2807, after reaching a peak of 1.2820, marking a 0.01% decline for the day.
GBPUSD information: The GBP/USD pair has held steady above the psychological barrier of 1.2800 in the early Asian trading hours on Friday. Selling pressure in the US dollar provides some support for the major currency pair. The highlight on Friday will be the US labor market data for February.
On the 1-hour chart, GBPUSD is currently receiving strong support around the breakout level of 1.2755. Breaking below this level will lead to a significant price decline, while maintaining it will result in a good price increase. It is expected that the price will retreat to test the EMA 34 and 89 as it has reached the upper limit of the uptrend channel.
Overall, GBPUSD has experienced significant volatility, surpassing the 1.2755 level. It is currently trading at a new high of 1.2807, after reaching a peak of 1.2820, marking a 0.01% decline for the day.
GBPUSD information: The GBP/USD pair has held steady above the psychological barrier of 1.2800 in the early Asian trading hours on Friday. Selling pressure in the US dollar provides some support for the major currency pair. The highlight on Friday will be the US labor market data for February.
On the 1-hour chart, GBPUSD is currently receiving strong support around the breakout level of 1.2755. Breaking below this level will lead to a significant price decline, while maintaining it will result in a good price increase. It is expected that the price will retreat to test the EMA 34 and 89 as it has reached the upper limit of the uptrend channel.
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