Dear beloved readers, Last week witnessed a strong surge in the GBPUSD currency pair as the USD significantly weakened. Currently, the upward momentum of this currency pair shows no signs of stopping, with the exchange rate hovering around 1.25.
It is evident that after experiencing a retreat to the 0.618 Fibonacci level, the GBPUSD pair has resumed its upward trajectory by surpassing the resistance level at 1.24 and transforming it into a robust support zone. If GBPUSD continues to maintain its current upward trend, there is a possibility of reaching the target of 1.27 within this week.
It is evident that after experiencing a retreat to the 0.618 Fibonacci level, the GBPUSD pair has resumed its upward trajectory by surpassing the resistance level at 1.24 and transforming it into a robust support zone. If GBPUSD continues to maintain its current upward trend, there is a possibility of reaching the target of 1.27 within this week.
Trade active
Trade closed: target reached
