Positive recovery signal for the last week of August, GBP

20 ส.ค. 2023

NOVA hello everyone, Let's comment on GBP/USD price next week from August 21 to August 25, 23

World situation:
After experiencing a decline below the 1.2700 mark due to underwhelming UK Retail Sales data, GBP/USD managed to bounce back and reach the 1.2750 region. With no significant economic releases on the horizon, the US Dollar is stabilizing its gains for the week, which in turn is supporting the pair's stability.

Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: 1.28400, 1.29940
Support : 1.26550

NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest