GBP/USD Exhibits Positive Movements Approaching Key Target Levels within Bullish Channel

Posted Friday, March 31, 2023 by
Arslan Butt • 1 min read

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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