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GBPUSD Price May Break Up the Supply Level of $1.25 and Target $1.26

GBPUSD Price Analysis – September 19
The price may reverse at the supply level of $1.25 should the Bears defend the level. Further increase in the bulls’ momentum may break up the supply level of $1.25 and the currency pair will target $1.26 price level.

Key levels:
Supply levels: $1.25, $1.26, $1.28
Demand levels: $1.23, $1.22, $1.20

GBPUSD Long-term Trend: Bullish
On the long-term outlook, GBPUSD is bullish. The last week target predicted was reached as the Bears were unable to defend the $1.23 level; the Bulls broke up the supply level of $1.23 (currently the demand level). Price retracement was carried out after which the Bulls pushed up the GBP price to test the supply level of $1.25.
The distance between the price and the two EMAs is increasing which indicates an increase in the bullish momentum.

GBPUSD price continues trading above the 21 periods EMA and 50 periods EMA. The former EMA is about to cross the later upside. The price may reverse at the supply level of $1.25 should the Bears defend the level. Further increase in the bulls’ momentum may break up the supply level of $1.25 and the currency pair will target $1.26 price level. Meanwhile, the Stochastic Oscillator period 14 is above 80 levels with the signal lines pointing up to indicate a buy signal.

GBPUSD Medium-term Trend: Bullish
GBPUSD is bullish in the medium-term outlook. The currency pair has been making higher highs on the 4-hour chart. The price increased and penetrated the barrier at the supply level of $1.23. The bullish momentum eventually extended to the supply level of $1.25 today.

The trading of GBPUSD above the 21 periods EMA and 50 periods EMA continue. The stochastic Oscillator period 14 is at 75 levels with the signal lines pointing up to indicate a further increase in price.

Please note: cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result short period

Azeez M. Mustapha

Azeez Mustapha is a technical analyst, has many years of trading experience in the stock exchange and the crypto markets. He has broad experience in Forex trading, coaching, and funds management.
e-mail: [email protected]

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