Technical Analysis of Weekly Price Movement of GBP/USD Main Currency Pairs, Tuesday July 18 2023.
July 18, 2023 6:22 am
If we look at the weekly chart of The Cable, you will see that there is an upward correction where this is confirmed by the price movement moving above the MA 10 and the CCI indicator managed to penetrate from the bottom up the three levels and respect the center level so as to emphasize that Buyers are on the weekly chart. enough to dominate GBP/USD but after successfully breaking above the 1.2847 level it seems that in the next few weeks GBP/USD has the potential to weaken to the 1.2471 level but as long as the decline does not exceed below the 1.2307 level then GBP/USD still has the potential to rally again up to go to the 1.3748 level .
(Dsiclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the weekly chart of The Cable, you will see that there is an upward correction where this is confirmed by the price movement moving above the MA 10 and the CCI indicator managed to penetrate from the bottom up the three levels and respect the center level so as to emphasize that Buyers are on the weekly chart. enough to dominate GBP/USD but after successfully breaking above the 1.2847 level it seems that in the next few weeks GBP/USD has the potential to weaken to the 1.2471 level but as long as the decline does not exceed below the 1.2307 level then GBP/USD still has the potential to rally again up to go to the 1.3748 level .
(Dsiclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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