GBP/USD Sees Marginal Gains Amidst Key Resistance
The Pound Sterling (GBP) is showing a slight uptick against the US Dollar (USD) this Friday, with the pair trading marginally higher and hovering near the 1.3500 mark during the European trading session. This modest advance comes as traders assess various market factors.
While the immediate movement indicates some bullish sentiment, it’s crucial for traders to keep a close eye on critical technical levels. As highlighted in our forecast, the 20-day Exponential Moving Average (EMA) is acting as a significant barrier. Sustained upside momentum would require a clear break above this key resistance.
Should the pair fail to maintain its current slight gains and break through the identified resistance, a downside move below the 1.3430 level could become increasingly likely, signaling a potential shift in momentum for the coming sessions. Keep an eye on the charts as the trading day progresses!
Source: Original Article
