GBP/USD struggles to reclaim 1.2500 ahead of the weekend

9 sept. 2023

GBP/USD clings to small daily gains but finds it difficult to surpass 1.2500 on Friday. The bullish opening in Wall Street makes it difficult for the USD to continue to outperform its rivals and helps the pair hold its ground heading into the weekend.

9 sept. 2023

Note

you can sell at zone 1.25600

10 sept. 2023

Note

If GBP/USD manages to stabilize above 1.2500, sellers could start taking profits off the table ahead of the weekend and open the door for an extended correction toward 1.2530 (mid-point of the descending regression channel) and 1.2550 (static level).

On the downside, 1.2465 (lower limit of the descending channel) aligns as immediate support before 1.2445 (multi-month low set on September 7) and 1.2420 (static level from June).

12 sept. 2023

Note

Gold has not stopped entry but the signal has followed the correct trend