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GBPUSD - EYEING 1.3430 BARRIER - CORRECTION LIKELYSymbol - GBPUSD CMP - 1.3406 The GBPUSD pair is gaining strength amid a broader rally driven by the ongoing decline in the US Dollar Index. This depreciation in the dollar is largely attributed to prevailing political dynamics in the United States, a shift in sentiment toward lower interest rates, and ongoing trade-related tensions. As a result, major currency pairs - particularly those within the dollar basket are experiencing upward momentum. In this context, the British pound is appreciating and approaching a key resistance level at 1.3430, this area has not been tested since its last confirmation approximately six months ago and is characterized by significant liquidity, which may initially hinder further upward movement. Key Resistance Level: 1.3430 Key Support Levels: 1.3292, 1.3207 Should the price approach this resistance sharply and fail to break through decisively - potentially forming a false breakout, there may be a subsequent corrective move. In such a scenario, a pullback toward the liquidity rich zone around 1.3292 could occur, especially if the pair fails to consolidate above 1.3430.
Short
by akshit_official
NZDJPY - BULLS BACK IN THE GAME?Symbol - NZDJPY CMP - 83.70 The NZDJPY currency pair is currently exhibiting a false breakout below the established range support, which, in the context of an emerging reversal pattern, suggests a potential breakdown of the prevailing bearish structure. From a fundamental perspective, recent market conditions have been highly volatile, primarily driven by unpredictable political rhetoric-particularly surrounding ongoing trade tensions. However, from a technical standpoint, the pair appears to be re-entering its prior trading range amid signs of market stabilization. The false breakdown of the support zone reinforces the probability of a short-term bullish reversal. The breach of the bearish trend structure, combined with the emergence of a reversal formation and re-entry into the range, increases the likelihood of upward price movement. Should bullish momentum sustain price action above the 83.70-84.20 support zone, further appreciation toward the 85.15–87.40 resistance range is plausible. Key Resistance Levels: 84.196, 86.150 Key Support Levels: 83.790, 83.310, 82.210 Sustained consolidation above the key support area may provide the bulls with an opportunity to drive the price higher toward a local zone of interest. While the broader trend remains neutral, the short-term outlook has shifted to a bullish bias.
Long
by akshit_official