The sharp increase in the GBP / USD and EUR / USD pairs since March 2020 continues to this day. The EUR / USD pair is currently trading at $ 1,970 and is expected to approach $ 1,200.
At the $ 1,200 level, it is expected that the price will make a slight correction as the level is a resistance level (previous resistant line) before waiting for some important economic data to be published this week and determine the long-term direction of this pair.
We expect prices to continue to climb to the level of $ 1.22 - $ 1.24 for a long period of time, depending on economic data that will emerge over time.
As for the GBP / USD pair, the same situation occurs in this pair where the current movement trend is still in a "strong bullish" state.
The price is currently trading at the $ 1.33 level and is approaching the $ 1,348 level which is the nearest resistant line level. We expect prices to soar to near $ 1.40 for the long term.
If you are interested in buying these two pairs, be wary of price corrections that will occur over time.
AHMAD FAIZUDDIN BIN RAZALI
ANALYST OF CDG GLOBAL
GBP / USD AND EUR / USD PAIRS STILL IN “STRONG BULLISH”
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