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British Pound / U.S. Dollar
Long
Sep 19, 2023
💷 GBP/USD Big Opportunity for Growth 💷
4
7
Grab this chart
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18
18
💷 GBP/USD Big Opportunity for Growth
💷 GBP/USD hasn't had a good run in recent weeks
💷 This could all change in the coming weeks on the back of an improving economic situation in the UK.
💷 There is still one more interest rate hike to come in the British Isles.
💷 Which will certainly be a significant factor for the price to strengthen.
💷 So will falling inflation and avoiding recession.
💷 Adding the fact that we are close to the current support zone adds to the attractiveness of buying the pound
💷 The scenario I am playing out is a strong strengthening of the Pound over the coming weeks.
💷 The nearest zone of resistance is around the price level of 1,248
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