GBPUSD Continues its Upward Trajectory, Approaching Significant Milestone

Tuesday, 9 July 2024, 08:20

The GBPUSD pair has been steadily climbing since bouncing off the 50-day SMA in late June. Currently, it is reaching levels not seen since 2024, indicating strong bullish momentum. Traders are urged to exercise caution as the pair nears a historically resistant range, suggesting potential reversal or consolidation.
Actionforex
GBPUSD Continues its Upward Trajectory, Approaching Significant Milestone

GBPUSD Advances Towards 2024 Highs

GBPUSD has been slowly gaining ground following its bounce off the 50-day simple moving average (SMA) in late June. Moreover, the pair has entered a range that has previously rejected further advances during the past year, thus traders should be careful not to get overly optimistic.


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.


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