GBP/USD Forecast: Will the Pound Soar or Sink?
GBP/USD Forecast: Will the Pound Soar or Sink?
GBP/USD Forecast: Will the Pound Soar or Sink?
GBP/USD Forecast: Will the Pound Soar or Sink?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
Trend Analysis
- The price has shifted from a downtrend to a strong uptrend.
- The recent breakout above key resistance confirms bullish momentum.
- Higher highs and higher lows indicate a continuation of the trend.
Moving Averages Insights
- The price has moved above the 200-day moving average, signaling a long-term trend reversal.
- The price is currently extended above short-term moving averages, indicating possible overbought conditions.
Upcoming Events
- Interest rate decisions from the Bank of England (BoE) and Federal Reserve (Fed) could impact GBP/USD.
- Economic data releases such as GDP, inflation, and employment figures may influence market direction.
Observations
- RSI is approaching overbought levels (68), suggesting a potential short-term pullback.
- Momentum is strong, but a consolidation phase may occur before further upside.
- Volume has been increasing, confirming buying pressure.
Final Takeaway
- The bullish trend remains intact as long as the price stays above key support levels.
- A breakout above resistance could fuel further upside.
- A breakdown below moving averages may signal a trend reversal.
Breakout Strategy (Bullish)
- Entry: Above recent highs (1.2960-1.3000) | Stop-loss: Below key support (1.2850)
- Targets: 1.3100 / 1.3200 / 1.3300
Breakdown Strategy (Bearish)
- Entry: Below support (1.2750-1.2800) | Stop-loss: Above recent highs (1.2900)
- Targets: 1.2600 / 1.2500 / 1.2400
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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