Hi,
Based on the Weekly Chart, we are still seeing that the GBP is still on uptrend as you can actually draw a channel there. It might be due to the reason that traders are still cautious on the effectiveness of Biden stimulus. The Fed will also give a statement of the interest hike this week.
Lets look at a smaller timeframe to find an opportunity. If we look at 1H chart there are strong support and resistance that might become the bullish point. The price touched 1.40 on the resistance level and pulled back. At the moment, it is now testing the support at 1.3864 and lets see if the price will bounce.
Happy Trading!
Based on the Weekly Chart, we are still seeing that the GBP is still on uptrend as you can actually draw a channel there. It might be due to the reason that traders are still cautious on the effectiveness of Biden stimulus. The Fed will also give a statement of the interest hike this week.
Lets look at a smaller timeframe to find an opportunity. If we look at 1H chart there are strong support and resistance that might become the bullish point. The price touched 1.40 on the resistance level and pulled back. At the moment, it is now testing the support at 1.3864 and lets see if the price will bounce.
Happy Trading!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.