The GBP/USD pair gains momentum around 1.2770 heading into the European session on Tuesday. The pair trades in positive territory for the second day in a row amid the weakening of the Greenback. Meanwhile, the US Dollar Index (DXY), a measure of the value of USD against six other major currencies, drops to 103.22.
From the technical perspective, GBP/USD holds above the 50- and 100-hour Exponential Moving Averages (EMA) on the one-hour chart, which means further upside looks favorable. Meanwhile, the Relative Strength Index (RSI) stands above 50, within bullish territory, suggesting that buyers are likely to retain control in the near term.
Therefore, the major pair will meet the immediate resistance level of 1.2780-1.2785 region, representing the upper boundary of the Bollinger Band and a high of August 17. The additional upside filter is located at a psychological round figure of 1.2800. Further north, the next barrier is seen at 1.2840 (high of August 1) en route to 1.2888 (high of July 28).
On the flip side, any extended weakness below 1.2740 (100-hour EMA) will challenge the next contention at 1.2730 (the lower limit of the Bollinger Band). The key contention is located at 1.2700 (low of August 18 and a psychological figure).
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
