Hello intelligent and wealthy traders!
Currently, GBPUSD is taking advantage of the opportunity to rise and recover from previous losses, with the price currently trading around the 1.223 level.
Using the excellent Fibonacci retracement tool from Trading View, this upward movement has the potential to extend to 1.2278 and even higher to 1.245. These are also two important resistance levels on the current 1D chart.
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Currently, GBPUSD is taking advantage of the opportunity to rise and recover from previous losses, with the price currently trading around the 1.223 level.
Using the excellent Fibonacci retracement tool from Trading View, this upward movement has the potential to extend to 1.2278 and even higher to 1.245. These are also two important resistance levels on the current 1D chart.
If you find this article interesting and useful, please leave a like and follow to receive the latest updates!
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GBP/USD closed the previous week virtually unchanged following a steady rebound in the second half of the week. The intense flight to safety at the beginning of the new week, however, caused the pair to open with a bearish gap and decline below 1.2200.
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What do you think about the market today?
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recent comments from Federal Reserve (Fed) officials seem to be putting additional weight on the USD's shoulders.
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