GBPUSD Faces Resistance at 1.32112 USD, Awaiting Correction
Updated
Currently, GBPUSD is trading around 1.31552 USD after breaking out of the descending price channel. The key resistance at 1.32112 USD presents a significant challenge for the upward trend.
The EMA 34 and EMA 89 lines indicate that the short-term upward trend remains intact, though a correction may occur as the price reaches this resistance level.
Upon hitting this resistance, the price may pull back to 1.31537.
Investors are awaiting the upcoming Fed meeting and key economic data from the UK, both of which will significantly impact the future trend of GBPUSD.
The EMA 34 and EMA 89 lines indicate that the short-term upward trend remains intact, though a correction may occur as the price reaches this resistance level.
Upon hitting this resistance, the price may pull back to 1.31537.
Investors are awaiting the upcoming Fed meeting and key economic data from the UK, both of which will significantly impact the future trend of GBPUSD.
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