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On Friday, the GBPUSD fell to a support level. What next for traders to prepare for the new trading week?
the GBP/USD
GBP/USD
The GBP/USD is the currency pair that includes the currency of the United Kingdom, the pound sterling (symbol £, symbol GBP), and the US dollar (symbol $, symbol USD). The price of the pair indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD is trading at 1.5000, this means that 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair in the forex market, which gives it ample liquidity.
The GBP/USD is the currency pair that includes the currency of the United Kingdom, the pound sterling (symbol £, symbol GBP), and the US dollar (symbol $, symbol USD). The price of the pair indicates how many US dollars are needed to buy one British pound. For example, when GBP/USD is trading at 1.5000, this means that 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair in the forex market, which gives it ample liquidity.
Read this term It moved higher on Friday’s jobs report, but fell as yields rose and so did the dollar. The British pound fell against the US dollar support level
support level
A trade support or support level is a specific price that acts as a buffer for the asset. In particular, this level ensures that the price of the asset will not fall below it or will have difficulty doing so. All assets can use support, be it forex, stocks, commodities, etc. market as the asset drops to a lower price. Basic support levels can be calculated and mapped out by identifying the lowest lows for
A trade support or support level is a specific price that acts as a buffer for the asset. In particular, this level ensures that the price of the asset will not fall below it or will have difficulty doing so. All assets can use support, be it forex, stocks, commodities, etc. market as the asset drops to a lower price. Basic support levels can be calculated and mapped out by identifying the lowest lows for
Read this term on the hourly chart, but kept hoping for more upside from the daily chart’s look.
Monday should give traders some technical clues as to who might win the next fight. The video will identify the key levels in play for the pair.