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Abstract：Pound Sterling Price News and Forecast: GBP/USD bulls looking for breakout to the topside
GBP/USD Price Analysis: Bulls looking for a breakout to the topside
Following the progression of the price action and market structures across the various time frames in GBP/USD, it can be concluded that the bulls are now in the most favorable position.
As per the prior analysis, whereby the bears were taking up control, the price did indeed melt to the downside as forecasted.
The pendulum swung in favour of buyers following December‘s 2.5 percent advance, stirring major trendline resistance (2.1161). February subsequently followed through to the upside (1.7 percent) and refreshed 2021 highs at 1.4241, levels not seen since 2018. Contained within February’s range, however, March and April witnessed decreased volatility.
May, nonetheless, trades firmly on the front foot, up by 1.7 percent MTD.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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