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RKarina

GBPUSD: Bounces back after a series of losses?

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
RKarina Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Technical Indicators GBPUSD optionsstrategies intradaytrade Forex signals Technical Analysis longsetup
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trendanalysis harmonicpatterns indicator gbpusd optionsstrategies intradaytrade forex signals technicalanalysis longsetup
The GBP/USD pair gained momentum in the early hours of Thursday's Asian trading session. This increase was driven by the weakening of the US dollar following Federal Reserve Chairman Powell's cautious press conference.

Additionally, the 1.2760 level, representing the 0.618 Fibonacci retracement of the latest uptrend, is currently seen as the initial support level reinforcing the pair's upward progress. There is a possibility of immediate breakthrough of the resistance level at 1.281, with the goal of reaching the peak at 1.289.
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