The GBP/USD pair initially fell during the day on Tuesday, but found enough support at the 200-exponential moving average again to turn things around and
The GBP/USD pair initially fell during the day on Tuesday, but found enough support at the 200-exponential moving average again to turn things around and form a positive candle. We continue to consolidate in general, with the 1.2750 level underneath being supportive. I think that the market will eventually break out to the upside and continue towards the 1.3450 level above. That’s the top of the previous consolidation area which we are now starting to move into. I believe that the market remains bullish, and short-term pullbacks offer buying opportunities. I have no interest in selling.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
