GBP/USD's Rally Strengthens Amidst Positive Market Sentiment

Thursday, 11 July 2024, 13:29
The GBP/USD pair is maintaining a bullish trend, with the intraday bias favoring further upside movement towards the 61.8% projection level of 1.2298 to 1.2859 from 1.2612 at 1.2959. A decisive break above this level could lead to an acceleration towards the 100% projection at 1.3173. Conversely, a downside move may occur if the key support level at 1.2845 is breached, causing a shift in the intraday bias to a more neutral stance.
Actionforex
GBP/USD's Rally Strengthens Amidst Positive Market Sentiment

GBP/USD Mid-Day Outlook

GBP/USD's rally continues today and intraday bias stays on the upside for 61.8% projection of 1.2298 to 1.2859 from 1.2612 at 1.2959.

Decisive break there would prompt upside acceleration through 1.3141 to 100% projection at 1.3173.

On the downside, below 1.2845 resistance turned support will turn intraday bias neutral first.

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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