GBPUSD → A breakout of trend resistance. Change?

5 Feb

GBPUSD is forming a local trend change attempt. The price breaks the resistance of the descending price channel and forms a consolidation above the line, in the buying zone.



The fundamental background is very complicated and not stable because of Trump's policy and the tariff war with the whole world. Sharp shifting statements have a huge impact on the markets.
Technically, the price is breaking the resistance of the long downtrend and we have a chance to change the local trend. A breakout of the resistance at 1.2488 and a price consolidation above this zone may motivate a buyer to support this move.

Resistance levels: 1.2488, 1.26
Support levels: 1.2414, 1.2377

The price may test the previously broken channel resistance before rising further, but the 1.2488 trigger plays an important role. If the bulls can keep the defense above this area, the currency pair may rally a bit in the short term.

Regards R. Linda!

5 Feb

Trade aktif

The currency pair is consolidating in the buying zone. Growth may continue from 1.24887