GBPUSD remains a Buy intraday trend
In the short term buy intraday in the 1.21600-1.21400 area
sl: 1.21000
tp:1.22000-122300
The Hamas-Israel conflict and yields continue to pose a threat to the currency pair ahead of a series of key economic data from the UK and US this week.
In the H4 framework, GBP/USD started to rise after testing his 1.2100 support, but the RSI is still stuck below 50, indicating that selling pressure remains strong. If the price closes below 1.2100, sellers will continue to target support at 1.2050 (on the downside from July high to October low) and 1.2000 support.
Immediate resistance for buyers lies at the 20-day moving average at 1.2150, then at the 100-day moving average at 1.2180 and 1.2200.
In the short term buy intraday in the 1.21600-1.21400 area
sl: 1.21000
tp:1.22000-122300
The Hamas-Israel conflict and yields continue to pose a threat to the currency pair ahead of a series of key economic data from the UK and US this week.
In the H4 framework, GBP/USD started to rise after testing his 1.2100 support, but the RSI is still stuck below 50, indicating that selling pressure remains strong. If the price closes below 1.2100, sellers will continue to target support at 1.2050 (on the downside from July high to October low) and 1.2000 support.
Immediate resistance for buyers lies at the 20-day moving average at 1.2150, then at the 100-day moving average at 1.2180 and 1.2200.
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