TradeCityPro | GBPUSD : Long-Term Perspective

4 בדצמ׳

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In this analysis, I will review the GBPUSD pair in the Forex market. The analysis is conducted on the weekly timeframe with a long-term outlook.

🔍 In this timeframe, after a sharp drop in price from the 1.41548 peak to the 1.08659 bottom, the price began an upward correction and is currently moving upward along a rising trendline.

🔑 If the trendline is broken, the likelihood of a bearish move increases. For short positions, the 1.25096 support level is ideal. The next important supports are 1.19225 and 1.08659. Breaking below 35.25 on the RSI could increase the probability of a bearish move and introduce bearish momentum into the market.

📈 As long as the price remains above the rising trendline, the trend is considered bullish. For long positions, breaking through 1.32073 and 1.33744 is ideal. The target for this move will be 1.41548.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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