GBP/USD is now seen in the unified range
Updated
Today, the GBPUSD has experienced a significant increase after breaking through the downtrend, currently trading at 1.213.
The latest report from Samson, which was two days ago (October 3rd), stated that the immediate delivery was at 1.2090. Samson emphasized that "the recent weakness of GBP continues and is likely heading towards 1.2000." Yesterday, GBP dropped to 1.2039 and then made a strong recovery to surpass our "strong resistance" level of 1.2160.
Breaking through this "strong resistance" level indicates that the downward momentum is weakening. The current price volatility may be part of a trading range phase, potentially ranging from 1.2030 to 1.2270.
The latest report from Samson, which was two days ago (October 3rd), stated that the immediate delivery was at 1.2090. Samson emphasized that "the recent weakness of GBP continues and is likely heading towards 1.2000." Yesterday, GBP dropped to 1.2039 and then made a strong recovery to surpass our "strong resistance" level of 1.2160.
Breaking through this "strong resistance" level indicates that the downward momentum is weakening. The current price volatility may be part of a trading range phase, potentially ranging from 1.2030 to 1.2270.
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