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GBPUSD 22 Feb 2024

GBPUSD 22 Feb 2024 on the Daily timeframe. After a long period of sideways moving between R1 and R2, the pair had declined to break R1 and enter the kumo cloud on the ichimoku indicator earlier this month. However, the pair is now trying to regain strength and initiate a bullish trend that has led it to occupy the price position of 1.26370 today. If referring to the stochastic indicator, it appears that the bullish trend will still continue towards the 80 level. Therefore go-long can still be an option for traders for now. Keep an eye on the market movements, be aware of possible trend reversals and calculate all possibilities before making trading decisions.

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