Hello everyone, it's RKarina here again. Overall, GBPUSD continues to trade in an upward trend. So, what factors are driving this upward momentum?
Today, the GBP/USD pair achieved modest gains above the 1.2600 level in the early Asian trading hours on Friday. The decline of the US Dollar provided some support for the major currency pair.
Currently, GBPUSD is operating near the resistance level of 1.2700, with dynamic support around 1.2680 before 1.2650-1.2660. However, to ensure the safety of your trades, we have recommended a significant support zone around this area, which also coincides with continuous price reaction. When reaching that entry point, we can prioritize buying with an expected increase of 1.3500 and 1.3800.
Today, the GBP/USD pair achieved modest gains above the 1.2600 level in the early Asian trading hours on Friday. The decline of the US Dollar provided some support for the major currency pair.
Currently, GBPUSD is operating near the resistance level of 1.2700, with dynamic support around 1.2680 before 1.2650-1.2660. However, to ensure the safety of your trades, we have recommended a significant support zone around this area, which also coincides with continuous price reaction. When reaching that entry point, we can prioritize buying with an expected increase of 1.3500 and 1.3800.
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