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GBPUSD Analysis – Buyers May Pause on Liquidity Flow
GBPUSD could slip out of the bullish volatility race following its breakout from the 1.26300 key zone. The pair has been on a bullish run in the last few days, with buyers driving up the price beyond the 1.26300 key zone. With the bullish pressure still quite high, the market is still anticipating a move up to the significant 1.3000 zone. But while the buyers have been active, there is a slight decline in bullish momentum that could result in a price retracement.
Traders should therefore watch out for any signs of a price retracement in the coming days. This could be a great opportunity for those looking to enter the market at a lower price.
GBPUSD Key Levels
Resistance Levels: 1.30000, 1.26300
Support Levels: 1.23100, 1.20500
GBPUSD Long – Term Trend: Bullish
The bulls have been on the rise since the GBPUSD market started at the 1.11600 level last year. In a bid to break the 1.18000 key zone, the buyers seemed to have the upper hand as the sellers released their strengths. This allowed for the price to range above the 1.18000 key zone. The bullish trend on the GBPUSD market was further strengthened by the higher highs and higher lows that the buyers have been forming. This pushed the price to break out above the 1.3000 key zone, giving more avenues for a bullish setup.
The Parabolic SAR (Stop and Reverse) indicator has also been supportive of the bullish trend in the GBPUSD market. This has helped to solidify the bullish momentum that was witnessed in the market. The indicator has been able to provide a clear signal of an uptrend and has been able to provide a good entry and exit point for traders.
GBPUSD Short-Term Trend: Bullish
On the 4-hour chart time frame, the bullish trend remains, but sellers should watch out for a sell reverse as the price could retrace down to the 1.26300 key zone. The Moving Average crossing is also in sync despite the bullish progress.
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