GBP/USD Value – Uptrend Transfer Restoration
On October 18, uptrend momentum led GBP/USD to its highest degree in practically 5 and half months. Later, consumers paused this transfer, and this stored the worth in a sideways sample for six weeks. At this time, Cable resumed bullish worth motion and broke above 1.3012 printing its highest degree in practically seven months at 1.3063.
This week, the Relative Power Index (RSI) pointed greater from 57 to 67, highlighting a transparent restoration of present uptrend momentum.
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GBP/USD DAILY PRICE CHART (DEC 1, 2017 – DEC 4, 2019) Zoomed out
GBP/USD DAILY PRICE CHART (Jan 4 – DEC 4, 2019) Zoomed IN
From the each day chart, we discover yesterday, GBP/USD rallied to the next buying and selling zone 1.2965 – 1.3048. At this time, the worth has examined the excessive finish of the zone.