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The British pound is trading around 1.3227 within a downtrend channel that has been forming since September 23. During recent trading, we have seen a rally above 1.3118, reaching the 1/8 Murray zone, but GBP/USD has been unable to consolidate in this area, and we are now observing a technical correction.
If the British pound consolidates above 1.3232 in the coming hours, this could be seen as a buying opportunity with a target at 1.3260—a zone of strong resistance that coincides with the upper band of the downtrend channel.
A decisive break above the downtrend channel and consolidation above 1.3260 could change the outlook for the British pound, and we could expect GBP/USD to reach the 2/8 Murray level around 1.3305, the 200 EMA around 1.3355, and finally, the 4/8 Murray level around 1.3427.
As long as the British pound consolidates below the 1/8 Murray level, downward pressure remains, and we could expect it to fall toward the 0/8 Murray level around 1.3181 and potentially even reach the lower band of the downtrend channel around 1.3120.
*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।
