GBPUSD → Attempting a trend change. Up to 1.2700?

6 Mei

GBPUSD , influenced by a positive fundamental backdrop and the dollar's decline since the opening of the session on Monday, is strengthening above previously broken trend resistance.



GBPUSD is strengthening, the currency pair is in a bearish trend reversal phase. The market and traders are readjusting after the negative NFP for the dollar released last Friday. The currency pair is testing the local high and on the pullback is consolidating above the bearish trend resistance. Confirmation of the trend change will be the consolidation of the price above 1.2634.

Resistance levels: 1.2668, 1.2570
Support levels: 1.2487, 1.2422

Most likely the market will make an attempt to change the trend, at the moment the realization phase is being formed. We are waiting for confirmation of the trend change with the purpose of further strengthening.

Regards R. Linda!

6 Mei

Trade aktif

A retest of trend resistance. Struggle between market participants continues