- The strong support is
seen at the level of 1.5835 today. Moreover, the resistance has already set at
1.6079 in the H1 chart. So, we expect a range about 244 pips until the end of Friday's
session. According to the previous events, the GBP/USD pair is still moving
between 1.5835 and 1.6015. It should be noted that the key level is set at the
level of 1.5920. Equally important, the double bottom will be formed at the level
of 1.5835. As it is known, history will probably repeat itself at this level
again. It will be a good sign to buy above the area of 1.5835 with the first
target at 1.6015 to test the minor resistance. It will call for uptrend in
order to continue its bullish movement towards 1.6079 (strong
- On the other
hand, the stop loss should never exceed your maximum exposure amounts; the stop
loss should be placed below 1.5835 at the level of 0.5905.
The pair still
calls for a strong bullish market from the spot of 1.5835.
had already set at the level of 1.6079.
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