GBPUSD: price increase but not stable.
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Hello dear friends!
GBPUSD is rebounding in today's trading session after dropping to the support level at 1.205. At the time of writing, this currency pair is trading at 1.213 and has increased by 0.08% for the day.
However, the long-term bearish trend on GBPUSD still weighs heavily, with market sentiment towards the Fed interest rates and the strength of the USD acting as significant obstacles for GBPUSD.
From a personal perspective, Karina believes that this is likely just a short-term increase for GU. Using the excellent Fibonacci tool from Trading View, there is a high probability that the upward movement could develop to two perfect levels at 1.215 and 1.220 before the downward trend resumes.
What are your thoughts on how GU will move today and in the near future?
GBPUSD is rebounding in today's trading session after dropping to the support level at 1.205. At the time of writing, this currency pair is trading at 1.213 and has increased by 0.08% for the day.
However, the long-term bearish trend on GBPUSD still weighs heavily, with market sentiment towards the Fed interest rates and the strength of the USD acting as significant obstacles for GBPUSD.
From a personal perspective, Karina believes that this is likely just a short-term increase for GU. Using the excellent Fibonacci tool from Trading View, there is a high probability that the upward movement could develop to two perfect levels at 1.215 and 1.220 before the downward trend resumes.
What are your thoughts on how GU will move today and in the near future?
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