RLinda ! GBPUSD-> FB. There is a possibility of a pullback

27 Feb 2023

The GBPUSD is hitting the support zone and making a false-break, and at the same time the USD index is testing the strong resistance at 105.00. What's next?

There are several factors that might lead to a possible pullback. The currency pair is getting stronger after the false-break and it formed a bullish momentum. The price breaks through the local resistance at 1.1962, hence, there is a chance that the price might rise to 1.2055 (local liquidity zone).

I expect fixation of the price above the level 1.1940 and counter-trend pullback. The short-term target is 1.2000, the medium-term target is the liquidity zone 1.2055

Sincerely R. Linda!