GBP/USD Price Analysis: Bulls look to 1.2450 while bears eye test of 1.2100 – by fx_ross GBPUSD Technical Analysis
remains within the bullish trend but is testing the commitments below 1.2200 and at 1.2150. The low of the week so far has been 1.2152 and the following illustrates the prospects of a deeper correction should the bears stay the course.It was stated that GBP/USD has been potentially starting to move into a phase of distribution below the 1.2350, 1.2400 areas on the daily However, the British Pound's bullish trend would still be intact while structures 1.2150 and 1.
If the bulls were to commit around the dynamic support of the trendline, then the case for a higher bull cycle high would be on the cards with 1.2450 eyed. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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