Cable eases from new highest levels since March 2022 on Monday, suggesting that bulls may take breather after 3.6% advance in past two weeks and strong bullish acceleration last Friday (almost 1% daily gain). Strongly overbought daily studies prompt traders to collect profit, though correction is likely to be limited as the uptrend is strong. […]
The post GBP/USD Outlook: Larger Bulls Likely to Take a Breather Before Resuming appeared first on Action Forex.
Key Highlights EUR/USD extended losses and tested the 1.0500 support. A key bearish trend line is forming with resistance at 1.0585 on the 4-hour chart. GBP/USD also extended losses and traded below the 1.2720 support. Read more…
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