• July 8, 2024
  • Trade ideas

GBPUSD: Possibility for Growth

GBPUSD, Daily

GBPUSDDaily.png

In the Daily timeframe, GBPUSD formed a head-and-shoulders reversed pattern after the volatility. The price reached the critical resistance area, and Momentum rose above the 100.0 level, so we can consider the possibility of growth.

  • GBPUSD buy can be considered when the resistance at 1.2810 is broken with a target of 1.2940;
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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