Hi everyone,
GBP/USD continues to consolidate below the 1.36200 level, with multiple failed attempts to break higher confirming this area as firm resistance for now. Following the rejection, price moved lower into the 1.35300–1.34600 demand zone, where we’re watching closely for signs of renewed buying interest.
This area has previously acted as a support base, and a reaction here could set the stage for another push higher. However, if buyers fail to step in, there is scope for a deeper retracement before the next attempt to reclaim resistance. We’ll be monitoring the price action closely to see which scenario plays out.
A drop into this area was highlighted as the more probable short‑term path, and we’re now looking for GBP/USD to find support in this region; and more importantly, to hold above the 1.33800 level to form the base for another push higher.
As previously noted, a decisive break above 1.37500 would renew our expectation for further upside, with the next key target around 1.38400. We'll be monitoring price action closely to see how it unfolds.
We’ll continue to provide updates on the projected path for GBP/USD as price approaches this target.
The longer-term outlook remains bullish, and we expect the rally to continue extending further from the 1.20991 January low towards 1.40000 and 1.417000.
We’ll be keeping you updated throughout the week with how we’re managing our active ideas. Thanks again for all the likes/boosts, comments and follows — we appreciate the support!
All the best for the week ahead. Trade safe.
BluetonaFX
GBP/USD continues to consolidate below the 1.36200 level, with multiple failed attempts to break higher confirming this area as firm resistance for now. Following the rejection, price moved lower into the 1.35300–1.34600 demand zone, where we’re watching closely for signs of renewed buying interest.
This area has previously acted as a support base, and a reaction here could set the stage for another push higher. However, if buyers fail to step in, there is scope for a deeper retracement before the next attempt to reclaim resistance. We’ll be monitoring the price action closely to see which scenario plays out.
A drop into this area was highlighted as the more probable short‑term path, and we’re now looking for GBP/USD to find support in this region; and more importantly, to hold above the 1.33800 level to form the base for another push higher.
As previously noted, a decisive break above 1.37500 would renew our expectation for further upside, with the next key target around 1.38400. We'll be monitoring price action closely to see how it unfolds.
We’ll continue to provide updates on the projected path for GBP/USD as price approaches this target.
The longer-term outlook remains bullish, and we expect the rally to continue extending further from the 1.20991 January low towards 1.40000 and 1.417000.
We’ll be keeping you updated throughout the week with how we’re managing our active ideas. Thanks again for all the likes/boosts, comments and follows — we appreciate the support!
All the best for the week ahead. Trade safe.
BluetonaFX
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t.me/bluetonaFX
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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.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
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.