30-min GBP/USD: High Buying Interest
On the 30-minute chart, GBP/USD is displaying encouraging signs of bullish momentum. The 20-period EMA has crossed above the 60-period EMA, indicating strong upward momentum and suggesting continued buying interest.
The Fibonacci retracement from the recent low of 1.2844 to the high of 1.3000 highlights key support levels:
23.6% retracement at 1.2964: Price is currently holding above this level, suggesting strong bullish pressure and potential for further upside.
38.2% retracement at 1.2935: This level aligns closely with the 20-period EMA, offering dynamic support.
50% level at 1.2922: This is a key psychological and technical support zone, reinforcing the bullish trend.
If GBP/USD maintains support above the 23.6% or 38.2% levels, the next target could be a retest of the 1.3000 high, with potential for a breakout towards new highs. The uptrend remains intact as long as the pair trades above the 60-period EMA.
The Fibonacci retracement from the recent low of 1.2844 to the high of 1.3000 highlights key support levels:
23.6% retracement at 1.2964: Price is currently holding above this level, suggesting strong bullish pressure and potential for further upside.
38.2% retracement at 1.2935: This level aligns closely with the 20-period EMA, offering dynamic support.
50% level at 1.2922: This is a key psychological and technical support zone, reinforcing the bullish trend.
If GBP/USD maintains support above the 23.6% or 38.2% levels, the next target could be a retest of the 1.3000 high, with potential for a breakout towards new highs. The uptrend remains intact as long as the pair trades above the 60-period EMA.
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