GBP/USD -28/11/2023-
∙ British Pound is also benefitting from weakening USD and falling yields
∙ Bullish trend intact as long as above the ascending trend line
∙ Bulls and bears are battling through the 1.2660-70 level (September 2020 low and August 2018 low)
∙ The above level needs to be cleared for further gains through 1.2850 (200 SMA) followed by the psychological level at 1.30 and 1.31 yearly high
∙ Bullish trend intact as long as above the ascending trend line
∙ Bulls and bears are battling through the 1.2660-70 level (September 2020 low and August 2018 low)
∙ The above level needs to be cleared for further gains through 1.2850 (200 SMA) followed by the psychological level at 1.30 and 1.31 yearly high
Ramzi Abou Abdallah, CFTe, CMT
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