GBPUSD buy message for medium to long termHello dear traders!
GBP/USD maintained stability at 1.2700 early Tuesday after remaining largely unchanged during the week's opening session. While the technical outlook still suggests a continuation of the uptrend, the pair's price action could remain difficult ahead of key inflation data from the UK on Wednesday.
Technical analysis:
The bullish outlook is supported by a triangle price pattern, while the recent crossover of the 34 and 89 EMAs facilitates further upside. Therefore, the price trying to overcome downtrend resistance is gradually opening the door for a breakout.
About the breakthrough:
It is expected that after overcoming the resistance at 1.2847, the price is likely to consolidate at this level. A confirmation of this consolidation could take the price further to the next target of 1.3760 and 1.4256.
In short:
The chart is currently showing GBP/USD gradually forming a more positive pattern for short and long-term investors (and also putting pressure on those who are selling) with the prospect of a breakout subsequent breakthrough and growth. I appreciate this opportunity, especially in the context that the USD is showing signs of weakness that could happen at any time.