Let’s See Where GBPUSD Exits The Range
Overall,
GBPUSD
is still trading above a medium-term tentative upside support line taken from the lowest point of March 2023. From the shorter-term perspective, from around mid-December, the pair is moving sideways within a range, roughly between the 1.2615 and 1.2800 areas. In order to consider the next short-term directional move, we would prefer to wait for a break through one of the sides of that range first.
A push through the upper bound of the aforementioned range, at 1.2800, may invite more buyers into the game, possibly clearing the way for
GBPUSD
towards higher areas. There is a good chance we might see a move towards the 1.2900 zone, however, our main target could be near the psychological 1.3000 hurdle. That hurdle is marked not far from the high of July 27th, 2023.
On the downside, a break of the lower side of the previously discussed range, at around 1.2615, could spark interest in the eyes of many more bears.
GBPUSD
could then travel to the 1.2500 territory, or slightly lower to the 1.2450 area. The latter one is marked by the low of November 22nd, 2023.
Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPUSD
is still trading above a medium-term tentative upside support line taken from the lowest point of March 2023. From the shorter-term perspective, from around mid-December, the pair is moving sideways within a range, roughly between the 1.2615 and 1.2800 areas. In order to consider the next short-term directional move, we would prefer to wait for a break through one of the sides of that range first. A push through the upper bound of the aforementioned range, at 1.2800, may invite more buyers into the game, possibly clearing the way for
GBPUSD
towards higher areas. There is a good chance we might see a move towards the 1.2900 zone, however, our main target could be near the psychological 1.3000 hurdle. That hurdle is marked not far from the high of July 27th, 2023. On the downside, a break of the lower side of the previously discussed range, at around 1.2615, could spark interest in the eyes of many more bears.
GBPUSD
could then travel to the 1.2500 territory, or slightly lower to the 1.2450 area. The latter one is marked by the low of November 22nd, 2023. Disclaimer:
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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