GBPUSD weekly base Correction Downside Towards Support 1.2960
Technical Market Outlook:
The GBP/USD pair has been seen trading in narrow intraday range after the bears have hit the level of 1.3008 and then the bulls have pushed the rate back towards the level of 1.3125. The range has been located between the levels of 1.3047 - 1.3100 as the volatility dries up. The key technical support is seen at the level of 1.2979, so as long as the market trades above it, the odds for another wave up are high.
Short term correction expecting on daily and weekly base chart towards 1.2980 and if the dollar gets strong then we could see 1.2860 and 1.2760 level monthly base.
🛑SUPPORT/RESISTANCE
✅S1= 1.2980
✅S2=1.2860
✴️R1=1.3060
✴️R2=1.3186
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The GBP/USD pair has been seen trading in narrow intraday range after the bears have hit the level of 1.3008 and then the bulls have pushed the rate back towards the level of 1.3125. The range has been located between the levels of 1.3047 - 1.3100 as the volatility dries up. The key technical support is seen at the level of 1.2979, so as long as the market trades above it, the odds for another wave up are high.
Short term correction expecting on daily and weekly base chart towards 1.2980 and if the dollar gets strong then we could see 1.2860 and 1.2760 level monthly base.
🛑SUPPORT/RESISTANCE
✅S1= 1.2980
✅S2=1.2860
✴️R1=1.3060
✴️R2=1.3186
Please like, share, comments and follow me to get daily base analysis.
Thank you for your support, I appreciate it.