GBP/USD: levels to trade
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
GBP/USD: levels to trade
BUY 1.3020; TP1 1.3100; TP2 1.3165; SL 1.2995
GBP/USD regained some ground on the weakness of the USD and the optimism about Brexit. The pair made a big leap up yesterday and broke 200-day MA (1.30). However, the pair had already tested levels above this line not long ago but ultimately returned lower. Daily MAs are below the price and almost horizontal. In the short term, the pound will likely correct back to 1.30.
A break below 1.30 may provoke a slide to 1.2940/00. Still, for now, support looks stronger, so we see that it’s possible to bet on another attempt to test the 50-week MA at 1.3165.
Elizabeth Belugina
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GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
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