As the clock ticks down to the weekend, what are the key levels in play and why now as we head into a new trading week for GBPUSD?
This week the price GBPUSD
GBP/USD
GBP/USD is a currency pair comprising the currency of the United Kingdom, the British pound sterling (symbol £, code GBP) and the United States dollar (symbol $, code USD). The exchange rate of the pair indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD trades at 1.5000, it means that 1 pound equals 1.5 dollars. GBP/USD is the fourth most traded currency pair in the forex market, which gives it sufficient liquidity.
GBP/USD is a currency pair comprising the currency of the United Kingdom, the British pound sterling (symbol £, code GBP) and the United States dollar (symbol $, code USD). The exchange rate of the pair indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD trades at 1.5000, it means that 1 pound equals 1.5 dollars. GBP/USD is the fourth most traded currency pair in the forex market, which gives it sufficient liquidity.
has moved above the 61.8% move down from the 2021 high to the 2022 low. This level comes in at 1.2760 and is now close to support and near risk. Stay on top and buyers will be more in control.
A more conservative risk area would come between 1.2600 and 1.2680. This level is also a retracement of the trend that has moved higher in trading this week.
On the upside, more upside momentum would have traders eyeing 1.3000 as the next most important target.
For now and for this week, the buyer has taken firm control and has also made several key breakouts that traders will now be looking for as key support.