GBPUSD: continues uptrend to 1.2760 level
Dear readers, today GBPUSD continues to trade in an upward trend.
Currently, after a mixed trading session, the major indices of Wall Street have gained momentum and recorded strong increases on Friday. Meanwhile, the benchmark 10-year US Treasury bond yield has dropped to 4.2% before the weekend, making it difficult for the US Dollar (USD) to remain resilient against its competitors.
Market participants may choose to stay on the sidelines amidst these significant risk events and not allow GBP/USD to make decisive moves in either direction.
From the 4-hour chart, GBPUSD is currently receiving strong support around the breakout level of 1.2650. Breaking below this level would result in a price decrease, while maintaining this level would lead to price increases. It is expected that the price will continue to recover after the correction phase and retest the EMA 34,89.
Currently, after a mixed trading session, the major indices of Wall Street have gained momentum and recorded strong increases on Friday. Meanwhile, the benchmark 10-year US Treasury bond yield has dropped to 4.2% before the weekend, making it difficult for the US Dollar (USD) to remain resilient against its competitors.
Market participants may choose to stay on the sidelines amidst these significant risk events and not allow GBP/USD to make decisive moves in either direction.
From the 4-hour chart, GBPUSD is currently receiving strong support around the breakout level of 1.2650. Breaking below this level would result in a price decrease, while maintaining this level would lead to price increases. It is expected that the price will continue to recover after the correction phase and retest the EMA 34,89.
Comment:
Price increases without adjustment
Trade active
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