GBP/USD: Waiting for Breakout or Pullback?
Hi All!
The Bank of England decision tomorrow adds uncertainty, and we’re keeping a close eye on GBP/USD for trading opportunities!
🔹 Key Levels to Watch:
📌 A confirmed break of 1.25190 resistance would be ideal for a long trade.
📌 Pullback to 1.24-1.23 would offer a more confident entry towards 1.28716 resistance, which has been holding for several days in 2024.
⚠ Potential for Sharp Downward Move: If the Bank of England cuts rates tomorrow, we might see a sudden drop, presenting a chance to buy back towards support zones.
Alternatively, a breakout above 1.25260 could signal the continuation of the bullish trend right now.
💡 Watch closely during today’s and tomorrow’s sessions for market moves!
#GBPUSD #Forex #BankOfEngland #Trading #ForexTrading #ForexAnalysis #GBP #TechnicalAnalysis #SupportAndResistance #Breakout #Pullback #CurrencyPairs #MarketWatch #TradeSmart #FinancialMarkets #TradingOpportunities
The Bank of England decision tomorrow adds uncertainty, and we’re keeping a close eye on GBP/USD for trading opportunities!
🔹 Key Levels to Watch:
📌 A confirmed break of 1.25190 resistance would be ideal for a long trade.
📌 Pullback to 1.24-1.23 would offer a more confident entry towards 1.28716 resistance, which has been holding for several days in 2024.
⚠ Potential for Sharp Downward Move: If the Bank of England cuts rates tomorrow, we might see a sudden drop, presenting a chance to buy back towards support zones.
Alternatively, a breakout above 1.25260 could signal the continuation of the bullish trend right now.
💡 Watch closely during today’s and tomorrow’s sessions for market moves!
#GBPUSD #Forex #BankOfEngland #Trading #ForexTrading #ForexAnalysis #GBP #TechnicalAnalysis #SupportAndResistance #Breakout #Pullback #CurrencyPairs #MarketWatch #TradeSmart #FinancialMarkets #TradingOpportunities
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.