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GBPUSD

The gbpusd movement began to experience a change in direction after the American PCE index data was released. Previously, the gbpusd movement was very consistent in going up. However, because the data released did not match expectations, market players predict that American interest rates will not be cut in the near future. The very strong push of the US dollar made gbpusd fall by around 50 pips. Now trading gbpusd is closed at the price of 1.2489. Judging from the picture above, even though in the past few weeks the increase has been quite high, it has not been able to break the 200 MA. I actually suspect there will be a retrace around there. The thing is, next Monday I predict that gbpusd will still be able to continue its decline even deeper because the candle still cannot penetrate the supply area at the price of 1.2540. As long as the supply area is not successfully penetrated, I feel the opportunity to go down is still very large. Therefore, I recommend to friends who trade in this pair that they should just try opening a sell position. For your target, you can place it at the closest support which is at the price of 1.2406. Technical Reference: buy as long as it is above 1.24820 Resistance 1: 1.25400 Resistance 2: 1.25570 Support 1: 1.24820 Support 2: 1.24665 GBPUSD has not moved from the daily high range of 1.25410 until tonight's US trading session, the opportunity to rise still seems to continue because it is supported by bullish Moving Average and Zigzag signals. On the 15 M chart above, GBPUSD also tends to provide opportunities for increases because the Zigzag is starting to be bullish and the MA is below the running price , indicating that the moving average is increasing. If the scenario above matches, GBPUSD has the opportunity to reach the resistance level of 1.25400.