3 min readPOUND VS DOLLAR (GBP/USD):
The British pound has been on a strong upward run over the past few months, with price action steadily climbing as it continues to strengthen against the dollar. Currently trading above 1.33800, the momentum appears to be cooling off slightly for the moment.
On the daily timeframe, it’s clear that we’re approaching the 70% level on the RSI, indicating that the price may be overbought in the short term. If we see a pullback, I’ll be watching closely to see how the price responds to the new support level, which was previously resistance and aligns well with the 50% Fibonacci level. Additionally, we have a strong ascending trend line and the 50 EMA providing dynamic support.
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The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
