Hi everyone,
As highlighted in our previous idea, GBP/USD has now corrected into the 1.34400–1.34750 zone, where we expect strong support to emerge and potentially set the stage for a renewed push higher toward the 1.36850 resistance level. Should price extend lower in search of additional demand, the next key zone of interest comes in around 1.33800, where we’d look for buyers to step in.
A decisive break above 1.36850 would bring our next key upside targets into focus. The impulsive rally from the 1st August low continues to reinforce our bullish outlook on GBP/USD, and upcoming headlines through the rest of the week could provide the catalyst for the Cable to press on.
We’ll be monitoring price action closely to see how this structure develops in the sessions ahead.
The longer-term outlook remains bullish, with expectations for the rally to continue extending from the 1.20991 January low toward 1.40000 and 1.41700.
We’ll keep you updated throughout the week with how we’re managing our active ideas.
Thanks again for all the likes, boosts, comments, and follows — we really appreciate the support!
All the best for the week ahead.
Trade safe,
BluetonaFX
As highlighted in our previous idea, GBP/USD has now corrected into the 1.34400–1.34750 zone, where we expect strong support to emerge and potentially set the stage for a renewed push higher toward the 1.36850 resistance level. Should price extend lower in search of additional demand, the next key zone of interest comes in around 1.33800, where we’d look for buyers to step in.
A decisive break above 1.36850 would bring our next key upside targets into focus. The impulsive rally from the 1st August low continues to reinforce our bullish outlook on GBP/USD, and upcoming headlines through the rest of the week could provide the catalyst for the Cable to press on.
We’ll be monitoring price action closely to see how this structure develops in the sessions ahead.
The longer-term outlook remains bullish, with expectations for the rally to continue extending from the 1.20991 January low toward 1.40000 and 1.41700.
We’ll keep you updated throughout the week with how we’re managing our active ideas.
Thanks again for all the likes, boosts, comments, and follows — we really appreciate the support!
All the best for the week ahead.
Trade safe,
BluetonaFX
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JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.