logo

FX.co ★ GBP/USD Day | Bullish continuation expected

GBP/USD Day | Bullish continuation expected

GBP/USD Day | Bullish continuation expected

The GBP/USD chart is currently indicating the potential for a bullish continuation towards the 1st resistance level.

Support Levels:

See also: InstaForex is one of the leaders in the Forex market, 12 years on the market, more than 7,000,000 active clients

The 1st support level at 1.26047 is labeled as "An Overlap support," suggesting a significant area where buying interest may emerge. Additionally, the 2nd support level at 1.24984 is supported by "Multi-swing low support" and the 38.20% Fibonacci Retracement, reinforcing its role as a substantial support zone.

Resistance Levels:

The 1st resistance level at 1.27920 is characterized as "An Overlap resistance," signifying a notable barrier to further upward price movement. Beyond this, the 2nd resistance level at 1.29020 is influenced by the 78.60% Fibonacci Retracement, emphasizing its significance as a resistance zone.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account