GBPUSD: Analyzing Bullish Outlook
The GBPUSD currency pair is showing signs of pull-back on both daily and 4-hour timeframes, and the 1-hour timeframe is indicating a bearish momentum. The price is reacting off the supply zone at 1.25240 and could trade back to the demand zone at 1.20975. The 50-SMA is acting as support, but the established trendline needs to be broken. Several factors could be responsible for volatility next week.
The key takeaways are:
GBPUSD is showing signs of pull-back on daily, 4-hour, and 1-hour timeframes.
The price is reacting off the supply zone at 1.25240 and could trade back to the demand zone at 1.20975.
The 50-SMA is acting as support, but the established trendline needs to be broken.
Several factors could be responsible for volatility next week.
The key takeaways are:
GBPUSD is showing signs of pull-back on daily, 4-hour, and 1-hour timeframes.
The price is reacting off the supply zone at 1.25240 and could trade back to the demand zone at 1.20975.
The 50-SMA is acting as support, but the established trendline needs to be broken.
Several factors could be responsible for volatility next week.
