GBP/USD Exhibits Positive Movements Approaching Key Target Levels within Bullish Channel
The [[GBP/USD]] pair exhibits positive movements as it approaches our primary anticipated target at 1.2440, operating within the bullish channel displayed on the chart.
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Last updated: Friday, March 31, 2023
The GBP/USD pair exhibits positive movements as it approaches our primary anticipated target at 1.2440, operating within the bullish channel displayed on the chart. This channel suggests targets that exceed the specified level, potentially reaching the 1.2610 area. As a result, the bullish trend scenario remains valid and active, receiving substantial positive support from the EMA50. It is important to note that breaking below 1.2325 followed by 1.2270 levels would halt the anticipated rise and apply pressure on the price to undergo some intraday bearish correction.
Today’s expected trading range is between 1.2310 support and 1.2480 resistance.
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Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.
His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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