GBP will cool down after a strong increase
The key immediate resistance to watch remains at 1.2800, while bears could look towards the key 200-day MA support at 1.2580.
On frame D1, GBP/USD buyers are testing the 1.2700 area, but mixed market sentiment weakens the upward momentum, causing the pair to not be able to exit the accumulation state. The pair has broken through important resistance zones, so even if the pair corrects, as long as the price remains above 1.2700, the uptrend will persist.
On frame D1, GBP/USD buyers are testing the 1.2700 area, but mixed market sentiment weakens the upward momentum, causing the pair to not be able to exit the accumulation state. The pair has broken through important resistance zones, so even if the pair corrects, as long as the price remains above 1.2700, the uptrend will persist.
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running + 20 pips
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TP1: 1.2700
TP2: 1.2650
SL: 1.2800