British Pound / U.S. DollarEducation
GBPUSD Trading in consolidation zone
Current trading is between support and resistance zones.
Broke through support on February 5th and touched resistance on February 7th.
Minor trendline was broken on February 7th with an abundance of buying pressure, however, we lack bullish confirmation until higher highs and higher lowers are created.
We have minor support around 1.29300. If this pair is able to stay above this minor support and break through the next minor trend, we could push upwards to the next resistance level.
Once again, we need to wait for bullish confirmation on the upward trendline.
If you like my work, feel free to share your thoughts and give this post a like! Good luck everyone!
Broke through support on February 5th and touched resistance on February 7th.
Minor trendline was broken on February 7th with an abundance of buying pressure, however, we lack bullish confirmation until higher highs and higher lowers are created.
We have minor support around 1.29300. If this pair is able to stay above this minor support and break through the next minor trend, we could push upwards to the next resistance level.
Once again, we need to wait for bullish confirmation on the upward trendline.
If you like my work, feel free to share your thoughts and give this post a like! Good luck everyone!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.