GBP/USD TECHNICAL OUTLOOK
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GBP/USD. Pair after opening at 1.3139 made a low of 1.3127 , and saw some short covering from lower levels the pair is respecting the levels of 1.3100 as a resistance and 20DMA at 1.3096 and now that has become support and the pair is making inverted head and shoulder pattern on hourly chart so intraday dips shall be utilized to buy the pair
Fundamental Overview
Pound is trading at 1.3224; continued with the uptrend from the previous day to make a high of 1.3273 but failed to break higher. Sellers exiting the stretched short positions after acceptable incoming economic data in the last few weeks. Pound would face a strong resistance near 1.33 and would give an opportunity to sell.
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Fundamental Overview
Pound is trading at 1.3224; continued with the uptrend from the previous day to make a high of 1.3273 but failed to break higher. Sellers exiting the stretched short positions after acceptable incoming economic data in the last few weeks. Pound would face a strong resistance near 1.33 and would give an opportunity to sell.
