GBP/USD Clears June Opening Range
GBP/USD clears the opening range for June as it initiates a series of higher highs and lows, and the exchange rate may continue to retrace the decline from the May high (1.2680) as it trades back above the 50-Day SMA (1.2465).
GBP/USD Rate Outlook
GBP/USD registers a fresh monthly high (1.2558) on the back of US Dollar weakness, with a move above 1.2650 (38.2% Fibonacci extension) bringing the May high (1.2680) on the radar.
Next area of interest comes in around 1.2760 (61.8% Fibonacci retracement), and the exchange rate may track the positive slope in the moving average to mirror the price action from earlier this year.
However, failure to test the May high (1.2680) may keep GBP/USD within a defined range, with a move below the moving average bringing the 1.2280 (23.6% Fibonacci extension) to 1.2340 (23.6% Fibonacci extension) area back on the radar.
--- Written by David Song, Strategist
GBP/USD Rate Outlook
GBP/USD registers a fresh monthly high (1.2558) on the back of US Dollar weakness, with a move above 1.2650 (38.2% Fibonacci extension) bringing the May high (1.2680) on the radar.
Next area of interest comes in around 1.2760 (61.8% Fibonacci retracement), and the exchange rate may track the positive slope in the moving average to mirror the price action from earlier this year.
However, failure to test the May high (1.2680) may keep GBP/USD within a defined range, with a move below the moving average bringing the 1.2280 (23.6% Fibonacci extension) to 1.2340 (23.6% Fibonacci extension) area back on the radar.
--- Written by David Song, Strategist
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.