GBP/USD Remains Buoyed - TC Market Buzz

The GBP/USD currency pair is getting some market buzz...the technical configuration still favors a bullish bias...


The "TC Market Buzz" research tool under the Market Analysis tab shows that the GBP/USD currency pair is getting some market buzz.

Source: TC Market Buzz

News volume has increased, and those news stories are associated with a 72% Positive Orientation.

Source: TC Market Buzz

On an Intraday 30-minute Chart, GBP/USD keeps trading on the upside.

Source: GAIN Capital, TradingView

It is around the ascending 20-period Moving Average, which stands above the 50-period one.

The technical configuration still favors a bullish bias.

GBP/USD is expected to encounter Overhead Resistance at 1.2630 and 1.2650 (both levels last seen on June 14).

Bullish investors should take the level of 1.2590 as the Key Support (Stop-loss) Level.

Build your confidence risk free

More from Forex

Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.