GBP/USD price movement, August 04, 2020


On the 4 hour chart, we can see that GBP/USD continues to rise as the bullish momentum is strong. The price is moving above the Moving Average periods (30). There is a possibility that Cable will reach the 1.3112 level as the first target and the 1.3169 level as the second target. This scenario is likely to come true if the pair does not decline and close bellow the 1.2990 level.

The overall bias for GBP/USD is bullish.


The material has been provided by InstaForex Company -