For the operational paired GBP/USD recently received a buy signal after breaking above the 1. 2708 resistance level as it remains a vital signal of higher odds of a bull market persistence. This pair is pointing towards some more of the resistance level of nearly 1. 2780
The current intraday bias is up which has a support at 1. 2445 holds. However if the pair manages to move past the tops at 1.2708, it could strive to achieve higher rounds approximately 1. 2780.
That is why the overview on the whole remains above the average, yet some mixed signs are observed temporarily due to the UK indicators. For instance, specific factors such as although wage increases are continuing to look solid, further increases in the unemployment rate may make a dent deeper. The position regarding future interest rate cuts will also be important for the British pound forecast and the pair’s future direction.
Indeed, seeing that the overall trend remains bullish as long as the rate finds support at key junctures and remains above pivotal resistance levels, it should be stated that USDCHF has all the requirements in place to produce a sustained move to the upside. One relevant tip that traders should follow is that they should always pay attention to the data related to economic indicators and central bank announcements because these areas will have the strongest effect on market outlook and price action.
It could be noted that the angle of the MACD, which indicates the current trend, and recent prices suggest that the GBP/USD will continue to rise, though investors should monitor future directions and major changes in the economy that might alter the course of the pair.
The current intraday bias is up which has a support at 1. 2445 holds. However if the pair manages to move past the tops at 1.2708, it could strive to achieve higher rounds approximately 1. 2780.
That is why the overview on the whole remains above the average, yet some mixed signs are observed temporarily due to the UK indicators. For instance, specific factors such as although wage increases are continuing to look solid, further increases in the unemployment rate may make a dent deeper. The position regarding future interest rate cuts will also be important for the British pound forecast and the pair’s future direction.
Indeed, seeing that the overall trend remains bullish as long as the rate finds support at key junctures and remains above pivotal resistance levels, it should be stated that USDCHF has all the requirements in place to produce a sustained move to the upside. One relevant tip that traders should follow is that they should always pay attention to the data related to economic indicators and central bank announcements because these areas will have the strongest effect on market outlook and price action.
It could be noted that the angle of the MACD, which indicates the current trend, and recent prices suggest that the GBP/USD will continue to rise, though investors should monitor future directions and major changes in the economy that might alter the course of the pair.