GBP/USD's Upward Momentum Continues as It Approaches Significant Resistance Levels

Monday, 15 July 2024, 13:05
The GBP/USD pair maintains its upward trajectory with a focus on surpassing crucial resistance levels. The ongoing rise from 1.2298 targets a 100% projection to 1.3173, slightly above the key medium-term resistance at 1.3141. A shift in momentum is possible if minor support at 1.2898 is breached, leading to potential consolidation before a renewed uptrend.
Actionforex
GBP/USD's Upward Momentum Continues as It Approaches Significant Resistance Levels

GBP/USD Mid-Day Outlook

No change in GBP/USD's outlook and intraday bias remains on the upside. Rise from 1.2298 is in progress for 100% projection of 1.2298 to 1.2859 from 1.2612 at 1.3173, which is slightly above 1.3141 key medium-term resistance. On the downside, below 1.2898 minor support will turn bias neutral and bring consolidations first, before staging another rally.

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.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe