GBP/USD above 1.29000

Source: Dukascopy Bank SA
Slight bullishness continued in the GBP/USD closing the previous week above 1.29300.

Economic Calendar


High levels of volatility should be expected as U.K. and U.S report important economical data that could impact FX currency pair.

GBP/USD hourly chart analysis

Sideways activity may persist in the short term trading within range from 1.28600 to 1.30000. Market participants may be awaiting key economic data or central bank decisions that could provide clearer directional signals.

Hourly Chart

GBP/USD daily candle chart analysis

Long-term bullishness could move the FX pair towards the 1.34000 price level once the 1.30000 resistance is passed. If Bearishness would occur, there may be wide range of sideways price moves.

Daily chart


Traders are short
Continuing previous week, majority of traders expect a bearishness of the FX pair, driven by weak economic data or improving market conditions.




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