And it logically fits into the technical and fundamental situation on the market and we see a correction to the support area.
On the high timeframe we see a pattern between
An important nuance for us is also the ascending price channel, which plays perhaps the main role at the moment. The price reacts to the channel boundaries and we can use the range trading strategy: buy from support and sell from resistance, the current trend is on our side.
Support levels: 1.2337, 1.2272
Resistance levels: 1.2421
Most likely before the news publication at 13:30 GMT the correction may continue, but since the market is expecting weak Initial Jobless Claims data, and this information may favorably affect GBPUSD, I will wait for price strengthening from the mentioned support area after the test.
Regards R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
t.me/RLindaTrade
🔴Contact:
t.me/RLindaSignals
🧿Web: rlinda.com
A weaker dollar on the back of Initial Jobless Claims data may strengthen GBPUSD
Consolidation of the price above 1.2421 will form a bullish potential