GBPUSD remains sidelined since the last Wednesday and retreats from its intraday high so far on Monday. Even so, a 13-day-old ascending trend channel defends the pair buyers. More immediately, a convergence of the 50-EMA and an upward-sloping trend line from early October, around 1.1760, restricts the quote’s nearby downside. Following that, the aforementioned...
Preventing the too much volume on the lower circuit, it brings uptrend over the weekend, as well as slower movement band in US index and Gold was seen, once reflexive position comes, it goes high opposing both and reaches average high or more that average high to month high. Its just 1-2 days idea to get the target.
GBPUSD resumes the last friday upward rise till 1.2700 and it has a chance to retest the level of 1.2200 , then continues it upward rally.. it can be a monthly analysis also.. based pure price action analysis.. not based on fundamentals..
Pound has break all its resistance levels by making a bottom at the 83.35 levels. And within a month it has given an incredible returns of up to 10%. Now it is again try to test its major resistance levels which can lead it to another highs of 94.80-95 levels. So, Buying Levels if it crosses Rs. 92.50 Levels. For the TG: 94.85 levels With the SL: 90.14 Levels.