GBPUSD: Weight change from decrease to increase in price
Dear friends, currently the GBP/USD pair continues to trade within an upward channel during the early Asian trading hours on Thursday.
Today, the GBPUSD price is hovering around 1.2712, marking a 0.1% decrease for the day. After careful observation, we can see that this currency pair has broken through the psychological resistance level of 1.2700 due to risk-accepting sentiment. However, the release of preliminary Q4 GDP data from the US on Thursday could cause market volatility.
In the short term, the 4-hour chart indicates a potential downward correction, with an expected decline towards support levels below 1.2700, with immediate support at 1.2680 before 1.2650.
Looking ahead, the EMA signals and the upward trend support further growth in GBPUSD. The price target is still emphasized at 1.2800.
Today, the GBPUSD price is hovering around 1.2712, marking a 0.1% decrease for the day. After careful observation, we can see that this currency pair has broken through the psychological resistance level of 1.2700 due to risk-accepting sentiment. However, the release of preliminary Q4 GDP data from the US on Thursday could cause market volatility.
In the short term, the 4-hour chart indicates a potential downward correction, with an expected decline towards support levels below 1.2700, with immediate support at 1.2680 before 1.2650.
Looking ahead, the EMA signals and the upward trend support further growth in GBPUSD. The price target is still emphasized at 1.2800.
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