GBPUSD Daily: bullish bias still on but...

8 сент.

Since October 2023 the pound has been in recovery mode after a 8.335 drop(around 108 pips) from July 2023 finding Support at 1.2373. This was the recovering start but this bullish momentum wasn't strong enough to break the March 2022 Resistance at 1.32681 level. Last Friday the market was watching for the NFP that even with a better result compared with the previous one wasn't enough to revert this bullish momentum closing NY around the 1.31312, Resistance level from July 2024. On the technical side the bullish bias is still in place but a possible pullback around the 1.29976 seems possible. The RSI seems to be heading to the 50 level showing in accordance with the Stochastic heading low. On Tuesday(10/09) we have 3 critical fundamentals news for the GBP and on Wednesday(11/09) we have a USA Presidential debate what can cause some turmoil so be smart.