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The British pound is trading around 1.3215, rebounding after hitting the 4/8 Murray level at 1.3182. During Wednesday's US session, the British pound traded around 1.3330 and reached a high of around 1.3350, but it failed to break through the strong resistance at the lower band of the downtrend channel, leading to a sharp technical correction.
Given that the British pound is under downward pressure, we could expect it to continue falling in the coming days until it reaches the lower band of the downtrend channel at 1.3105, and it could even reach the 3/8 Murray line around 1.3061.
Conversely, a consolidation above the 21 SMA, located around 1.3235, could offer an opportunity to open long positions, with targets at the 5/8 Murray line around 1.3305 and finally at the 200 EMA around 1.3373.
Given that the Eagle indicator is approaching oversold levels, we could expect the British pound to trade within a range between 1.3305 and 1.3150 in the coming days; both levels could suggest opportunities to buy or sell.
If the British pound breaks decisively above this level, the outlook could be positive, and GBP/USD is expected to reach the 8/8 Murray line around 1.3671 in the coming days.
*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।
