The GBP/USD finished last week’s trading around the 1.21725 ratios. Having started the week essentially near the 1.20700 mark the bullish outcome for the GBP/USD should be given attention by speculators. Yes, volatility did hit the GBP/USD last week and a low of 1.20085 was touched approximately on Wednesday. However, the currency pair was able to incrementally trade higher after this depth and came within sight of highs near the 1.22000 ratios before going into the weekend and suffering a slight reversal lower.
The crisis in banking confidence will no doubt continue into this week and that will certainly make for nervous trading GBP/USD conditions. However, from a speculative point of view, the rather robust results upward within the GBP/USD are intriguing. The currency pair finished its trading within the upper part of the weekly price range and was able to maintain a rather steady pace higher, which started on the 8th of March. Yes, global concerns regarding Credit Suisse and U.S. regional banks will continue to be heard in the coming days, but the buying in the GBP/USD which has been generated the past week and a half of the trading is worthwhile to consider.
GBPUSD h1 price is in an uptrend. However, early today, the pair may have a short correction before continuing to go up. It is recommended to wait to buy when the price returns to 1.2140, SL: 1.2100, TP: 1.2240
The crisis in banking confidence will no doubt continue into this week and that will certainly make for nervous trading GBP/USD conditions. However, from a speculative point of view, the rather robust results upward within the GBP/USD are intriguing. The currency pair finished its trading within the upper part of the weekly price range and was able to maintain a rather steady pace higher, which started on the 8th of March. Yes, global concerns regarding Credit Suisse and U.S. regional banks will continue to be heard in the coming days, but the buying in the GBP/USD which has been generated the past week and a half of the trading is worthwhile to consider.
GBPUSD h1 price is in an uptrend. However, early today, the pair may have a short correction before continuing to go up. It is recommended to wait to buy when the price returns to 1.2140, SL: 1.2100, TP: 1.2240
