GBPUSD → The bulls are holding their ground. Target 1.29

Jul 10

GBPUSD shows bullish outlook ahead of strong news publication. GBPUSD continues to strengthen on the overall fundamental backdrop.



The market is reacting weakly to the resistance area as, against the backdrop of a relatively weak dollar buyers are taking initiative towards GBP. Strong news ahead. Powell speaks again today, tomorrow the UK GDP is published, as well as the US CPI. The news can both strengthen the growth and reverse it.
Technically, the currency pair looks quite bullish. The price consolidation above 1.28 will be a good point for the continuation of the rise to 1.29 and 1.30.
But, the structure will be broken when 1.2775 is broken, in this case we can expect a correction to 1.27 - 1.266.

Resistance levels: 1.28, 1.289
Support levels: 1.2775, 1.2708

Fundamentally and technically everything is positive, I continue to consider further strengthening under a number of conditions described above. The potential target is 1.29

Regards R. Linda!

Jul 10

Trade active

Bulls were able to keep the defense above 1.27.
Testing 1.285

Jul 11

Trade active

The first goal has been accomplished. Fundamental background is favorable, the second target will be achieved in the nearest future

Jul 12

Trade active

Jul 17

Trade closed: target reached