GBPUSD dips to be bought, 1.2470 is prime support
GBPUSD - Weekly Outlook
Buying in front of 1.2470 (stop at 1.2340)
The monthly chart has posted a bullish morning doji star pattern. This free candle formation is bullish for sentiment. Although we have seen a move to the downside, price action has been mixed and volatile. This is common in corrective formations. There is scope for further losses, but we look for dips to attract buying interest.
Our profit target is 1.2730 and 1.2920
Resistance: 1.2733 / 1.2848 / 1.2922
Support: 1.2561 / 1.2472 1.2428
Buying in front of 1.2470 (stop at 1.2340)
The monthly chart has posted a bullish morning doji star pattern. This free candle formation is bullish for sentiment. Although we have seen a move to the downside, price action has been mixed and volatile. This is common in corrective formations. There is scope for further losses, but we look for dips to attract buying interest.
Our profit target is 1.2730 and 1.2920
Resistance: 1.2733 / 1.2848 / 1.2922
Support: 1.2561 / 1.2472 1.2428
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