Hello everyone, what are your thoughts on GBPUSD?
This currency pair has been navigating a prolonged sideways trend for over a month now, currently positioned at 1.263. Technical analysis suggests it's on the brink of testing a significant support level.
Predicting its future movement has become increasingly challenging as it remains largely unresponsive to fluctuations in the US dollar. Should the support level give way, the next stop could potentially be at 1.242. Conversely, if the bulls manage to defend their ground, we might witness an assault on the 1.278 resistance level once more.
What direction do you foresee GBPUSD heading in the near future? Share your thoughts below!
This currency pair has been navigating a prolonged sideways trend for over a month now, currently positioned at 1.263. Technical analysis suggests it's on the brink of testing a significant support level.
Predicting its future movement has become increasingly challenging as it remains largely unresponsive to fluctuations in the US dollar. Should the support level give way, the next stop could potentially be at 1.242. Conversely, if the bulls manage to defend their ground, we might witness an assault on the 1.278 resistance level once more.
What direction do you foresee GBPUSD heading in the near future? Share your thoughts below!
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