FX.co ★ GBP/USD

On Thursday, I closely watched the EURUSD pair as it staged a notable rebound right at the close. I focused intently on that significant support level near 1.1741, and I was pleased to see it hold firm. From that point, I observed the price climb steadily, and I noted how it successfully reached the nearest local 100.0 Fibonacci level. I believe this move is a strong indication of buyer interest, and I am now setting my sights on the next major hurdle. I see the resistance near 1.1827 as the immediate target for the bulls, and I am convinced that a break above it today would significantly strengthen the upward price momentum I am anticipating. I have a strong conviction about the direction here; I genuinely do not expect a decline because I am factoring in the upcoming US GDP data. I anticipate this report will likely show negative figures, and I think that will act as a prolonged drag on the dollar. I feel that such a fundamental catalyst is exactly what the market needs to fuel a sustained move higher I have been carefully considering the broader fundamental landscape as well. I haven't heard any impressive or market-moving statements from the Fed recently, which leaves me with a sense of uncertainty from that corner. For me, the lack of hawkish signals is, in itself, a slightly bullish factor for the pair. I am still leaning firmly toward growth in this scenario. I see the recent price action as a healthy correction; I believe we have successfully shaken out the weak or excess buyers who piled in too early. I now feel that the path is being prepared for the next leg up. I am convinced that once we decisively break that nearest resistance at 1.1827, the way upward will be clear for a more sustained rally. I am sharing this analysis in the hope that others can also profit from the moves I am seeing, and I sincerely wish profitable trading to all who follow these levels

From a technical standpoint, the signals are aligning with my bullish view. I rely on the indicators to confirm my bias, and right now, I see a compelling setup. I have observed that the moving averages have crossed on the chart, and for me, this is a classic and reliable buy signal. I use this as a key confirmation point in my strategy. I feel much more confident in my long position knowing that this technical event has occurred. I believe it represents a shift in the short-term trend, adding another layer of evidence to support my fundamental outlook. I am integrating all these observations into my plan, and I am prepared to act on them as the market session unfolds.