GBP/USD – Dip demand likely near 5-DMA
Pair’s failure to close below the critical support of 1.2132 on Tuesday followed by a sharp rally to 1.2309 on Wednesday indicates a temp low is in place and the spot could test 1.2346 (Feb 7 low) and 1.24 levels.
The 5-DMA and 10-DMA bullish crossover also suggests the dips to these averages are likely to find new buyers.
The 5-DMA and 10-DMA bullish crossover also suggests the dips to these averages are likely to find new buyers.
