GBP/USD extends gains, but watch for pullback risk

há 4 diasThe risk-sensitive pound benefited from the rally in equities, with GBP/USD rising to 1.3381. The level of 1.3367 is the highest since early March 2022 (Monday's low was 1.3249, before the UK PMI). The Nikkei hit a three-week closing high; DAX index futures hit a record high.

The bull trend in GBP/USD continues to develop, making new highs almost every day since September 12. Overbought conditions are beginning to emerge, and the risk of a correction is increasing. Given the overbought, a pullback to the previous significant high of 1.3269 is possible, as a callback to this level still ensures that the trend remains intact. Bullish targets for GBP/USD include 1.3400 (large option expiration) and 1.35.

há 4 dias

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GBP/USD stood at 1.34 for the first time since March 2023, up 0.39% on the day.

há 4 dias

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hope it was helpful

há 3 dias

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Yesterday's analysis goal all achieved, congratulations, do not be greedy!
Today's moving average at 1.3365, to pay attention to whether it can be stable, if lost, pay attention to 1.3350-1.3346 support, this area is the recent long and short continued to compete for.

1.3429 is not only an intraday high but also a new 2024 high, some investors sold the pound on a pullback to 1.3400, momentum indicators remain positive, and a close below 1.3331 could trigger a bigger pullback. Everyone be careful!

há 3 dias

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I think you'll need more signals and analysis, I'll keep updating!