LegionQ8

British Pound can continue to rise and reach resistance area

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FX:GBPUSD   英鎊 / 美元
Hello traders, I want share with you my opinion about British Pound. Watching the chart, we see how the price made a deep upward correction, formed a resistance area of 1.2660-1.2680, retested it, and continued to fall. The British Pound broke through the level 1.2535 and, after an upward correction, dropped to the level 1.2305, from which it began an upward movement. After a retest of the support line, the British Pound continued to move up and rose to the level 1.2535. The price make a deep correction, retested the support line and continued to grow and broke through the resistance level. Not long ago, the price dropped, tested current support, and continued to move. Currently, the British Pound is trading above the support level and can continue to rise. On Monday, after the market opens, I see two options for the development of events. 1st. The price can immediately continue to rise and reach the resistance area. 2nd. The British Pound can make a downward correction to retest support level and rise to the resistance area. So, I decided to set the targets at level 1.2615 and in the zone 1.2660-1.2680. Please share this idea with your friends and click Boost 🚀

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