GBPUSD Weekly Technical Outlook
Technically, the GBPUSD market is still favourable to bulls. But in the last four weeks, market operation has been largely sideways with the 1.30460/1.31840 zone (magenta) the prevailing range.
Recent price action on the daily time frame is sideways at a significant horizontal resistance area (magenta). Technically, the area is susceptible to a bearish turnaround. However, we should let the market decide how it handles the area before taking any directional bias.
I may be wrong. Trade safe and prosper.
KP
Technically, the GBPUSD market is still favourable to bulls. But in the last four weeks, market operation has been largely sideways with the 1.30460/1.31840 zone (magenta) the prevailing range.
Recent price action on the daily time frame is sideways at a significant horizontal resistance area (magenta). Technically, the area is susceptible to a bearish turnaround. However, we should let the market decide how it handles the area before taking any directional bias.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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