FenzoFx—GBP/USD fell from $1.3435, testing the 50-period simple moving average near $1.3276. The Stochastic Oscillator is nearing the 20 level, suggesting the US dollar is overbought in the short term.
Support lies at $1.3202. The outlook remains bullish while above this level, though a close above $1.3295 is needed to confirm upward momentum. A retest of $1.3435 could follow.
Bearish Scenario: A drop below $1.3202 would invalidate the bullish view, potentially extending the decline to $1.3144 or even $1.3030 under sustained selling pressure.
Support lies at $1.3202. The outlook remains bullish while above this level, though a close above $1.3295 is needed to confirm upward momentum. A retest of $1.3435 could follow.
Bearish Scenario: A drop below $1.3202 would invalidate the bullish view, potentially extending the decline to $1.3144 or even $1.3030 under sustained selling pressure.
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Knowledge Should Be Free – And So Is Your Path to Trading Success.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.