In the short term, with the effect of the Dollar index limiting its downward movements, the Sterling appeared to suppress its rises. GBPUSD is trading at 1.3158 while preparing the analysis.
When we examine the GBPUSD parity from a technical point of view in the short term, we follow the 1.3100 – 1.3130 region supported by 21-period Envelopes. As long as the 1.3100 – 1.3130 region limits the downward request, the uptrend may be valid. If the upward pricing continues, 1.3170 and 1.3200 levels may come to the fore. At this stage, the attitude of the 1.3200 level can be followed in terms of the continuity of the upward expectation.
In case the uptrend is suppressed at 1.3170, decreases towards 1.3150 and 1.3130 can be recorded. As possible pullbacks are limited in the 1.3100 – 1.3130 region, upside reactions can be observed from this region. Therefore, permanent pricing below the 1.3100 level may be needed to consolidate the negative expectation. In this case, moves towards 1.3075 and 1.3050 levels can be observed.
In summary; As long as the 1.3100 – 1.3130 region limits the bearish desire, the bullish prospect may hold.
High of the Day: 1.3100 – 1.3130 region