GBPUSD has started to stabilise after its recent decline, with buyers defending the 1.3200 area. If this support continues to hold, the pair could extend its recovery toward the next resistance levels.
The UK housing data came in slightly better than the previous reading, while traders are also watching comments from the BoE, ECB, and the Fed. If the US Dollar loses momentum, Sterling may have room for a further bounce.
Trade Setup:
Buy Zone: 1.3200 – 1.3220
Stop Loss: 1.3160
Take Profit 1: 1.3275
Take Profit 2: 1.3320
The UK housing data came in slightly better than the previous reading, while traders are also watching comments from the BoE, ECB, and the Fed. If the US Dollar loses momentum, Sterling may have room for a further bounce.
Trade Setup:
Buy Zone: 1.3200 – 1.3220
Stop Loss: 1.3160
Take Profit 1: 1.3275
Take Profit 2: 1.3320
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Related publications
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.