GBP/USD gradually marches towards the key upside hurdle as it grinds higher following a two-day winning streak, floating near 1.2500 during the initial hours of Friday’s Asian session.
In doing so, the Cable pair defends the previous day’s rebound from the 100-bar Simple Moving Average (SMA) while also justifying the firmer Relative Strength Index (RSI), placed at 14, not overbought.
With this, the quote’s further upside towards a horizontal area comprising multiple levels marked since April 04, around 1.2505-20, can’t be ruled out. However, the pair’s additional run-up will depend upon how well it can stay beyond the stated hurdle as the Year-To-Date (YTD) peak surrounding 1.2550 could challenge GBP/USD buyers afterward.
In a case where the Cable pair remains firmer past 1.2550, a run-up towards the May 2022 peak of around 1.2665 becomes appealing.
Meanwhile, pullback moves need to break the 100-SMA support of 1.2440 to convince intraday sellers.
Following that, a fortnight-old ascending support line and the 200-SMA, respectively near 1.2410 and 1.2360, may prod the GBP/USD bears.
It’s worth noting, however, that the GBP/USD pair’s weakness past 1.2360 will make it vulnerable to visiting the monthly low of around 1.2275.
GBP/USD gradually marches towards the key upside hurdle as it grinds higher following a two-day winning streak, floating near 1.2500 during the initial hours of Friday’s Asian session.
In doing so, the Cable pair defends the previous day’s rebound from the 100-bar Simple Moving Average (SMA) while also justifying the firmer Relative Strength Index (RSI), placed at 14, not overbought.
With this, the quote’s further upside towards a horizontal area comprising multiple levels marked since April 04, around 1.2505-20, can’t be ruled out. However, the pair’s additional run-up will depend upon how well it can stay beyond the stated hurdle as the Year-To-Date (YTD) peak surrounding 1.2550 could challenge GBP/USD buyers afterward.
In a case where the Cable pair remains firmer past 1.2550, a run-up towards the May 2022 peak of around 1.2665 becomes appealing.
Meanwhile, pullback moves need to break the 100-SMA support of 1.2440 to convince intraday sellers.
Following that, a fortnight-old ascending support line and the 200-SMA, respectively near 1.2410 and 1.2360, may prod the GBP/USD bears.
It’s worth noting, however, that the GBP/USD pair’s weakness past 1.2360 will make it vulnerable to visiting the monthly low of around 1.2275.
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
اترك رسالتك الآن