GBPUSD → The correction is coming to an end. Next is 1.310?

22 juil. 2024

GBPUSD is in a correction phase testing the liquidity area as well as a strong support level from D1. The correction is news related, but something happened over the weekend that could put selling pressure on the dollar.



Technically GBPUSD is bullish, as evidenced by the update of the highs and the counter-trend correction to the liquidity area.
Yesterday, Biden announced that he was withdrawing from the presidential race, fielding Kamala Harris in his place. Trump's odds are rising in this case, and he has previously hinted that he wants a weaker dollar. Against this background, the DXY may continue its bearish course, which may generally favor the forex market.
Technically, 1.28940 is worth paying attention to. A false breakdown could trigger further growth. But, if the bulls will not let the price to this zone, it will be enough to wait for the price to consolidate above 1.294.

Resistance levels: 1.294, 1.297
Support levels: 1.2894, 1.286

Technically the market is bullish, fundamentally everything is good. Most likely, interested buyers are still in the market, so the pressure for further growth may continue

Rate, share your opinion and questions, let's discuss what's going on with ★ GBPUSD ;)

Regards R. Linda!

22 juil. 2024

Transaction en cours

Extremely calm day. Very low volatility. The currency pair was in consolidation all day long