GBP/USD rises towards 1.34 as sentiment improves
GBP/USD rises amid a risk on market mood after more Chinese stimulus and ahead of ed Chair Powell's speech later today.
GBP/USD trades above a rising trendline dating back to 2022. More recently, the price has been trending higher since the end of April, forming a series of higher highs and higher lows.
The price ran into resistance at 1.34 and has corrected lower. Buyers will look to push above 1.34, bringing 1.35, the round number, into play.
On the downside, support can be seen at 1.3265, the August high. Below here 1.31, the round number comes into play, and a move below 1:30 will create a lower low.
GBP/USD trades above a rising trendline dating back to 2022. More recently, the price has been trending higher since the end of April, forming a series of higher highs and higher lows.
The price ran into resistance at 1.34 and has corrected lower. Buyers will look to push above 1.34, bringing 1.35, the round number, into play.
On the downside, support can be seen at 1.3265, the August high. Below here 1.31, the round number comes into play, and a move below 1:30 will create a lower low.
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