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The GBPUSD pair was in an uptrend from 1.0400 to 1.0600, which prevented further losses.
The rising lows at 1.1150 and 1.1750 showed that bulls were strong and could push the price higher than 1.1750.
Bulls faced resistance at 1.2340, but they overcame it. However, they could not make a new high and instead repeated the same high level, forming a double-top pattern.
This led to a downward correction to 1.1800, which was seen as a good buying opportunity with a target around 1.2350.
Since recent bullish breakout above 1.2340 was witnesse, latest fundamental analysis shows that the USD has been hurt by low interest rates and inflation concerns.
However, traders should be careful and watch out for any news that could affect the pair's performance.
If the pair keeps rising steadily above 1.2340, it could reach 1.2700.
But if the current breakout turns out to be false, another drop to 1.1750-1.1800 could happen.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
