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GBP/USD Bounces from 1.3020: Targets 1.3155 and 1.3260
GBP/USD looks bullish after bouncing off the support level at 1.3020. This means buyers stepped in around that price, and the market could be ready to move higher.
The first target for this upward move is around 1.3155, a point where the price might pause or face resistance from sellers. If the momentum continues and GBP/USD breaks through 1.3155, the second target could be around 1.3260.
Traders should also keep an eye on key economic events or data that could impact the market, such as interest rate announcements or inflation figures. If the price drops below 1.3020, the bullish outlook would be invalid, suggesting further downside.
The first target for this upward move is around 1.3155, a point where the price might pause or face resistance from sellers. If the momentum continues and GBP/USD breaks through 1.3155, the second target could be around 1.3260.
Traders should also keep an eye on key economic events or data that could impact the market, such as interest rate announcements or inflation figures. If the price drops below 1.3020, the bullish outlook would be invalid, suggesting further downside.
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