GBP/USD could gather demand soon

GBP/USD could gather demand soon

GBP/USD has been riding a bearish sequence in the short-term, according to our H1 chart projection. Currently, the pair is finding dynamic support in the 200 SMA, which also coincides with the demand zone established between the 1.3039 and 1.2970 levels across the board. If the pair does a rebound over there, we can expect further strength towards the -23.6% Fibonacci level around 1.3374.

RSI indicator is still at the negative territory, favoring for more declines in coming hours.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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