Key Insights on GBP/USD's Price Action and Outlook for the Week
Sunday, 7 July 2024, 12:12
GBP/USD Weekly Outlook
GBP/USD's strong rebound last week suggests that corrective pullback from 1.2859 has completed at 1.2612 already. Initial bias remains on the upside this week for 1.2859 first.
Key Points:
- Rebound Indication: Strong rebound signals corrective pullback completion
- Upside Potential: Focus on breaching 1.2859 with target at 1.2959
- Resistance Levels: Potential rally towards 61.8% projection at 1.2959 and beyond
- Downside Risk: Intraday bias neutrality if support at 1.2740 breaks
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.