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Previously, the GBP/USD pair remained under bearish pressure to challenge the prominent daily bottom established around 1.1750 which was bypassed shortly after.
However, considerable bullish momentum was initiated around 1.0400-1.0600 that could prevent further bearish decline.
As the market was pursuing the current bullish movement, the newly-established ascending bottoms around 1.1150 and 1.1750 remained defended by the bulls. That's why, further bullish continuation above 1.1765 was expected.
Price action around 1.2340 was being watched for bearish rejection and a short-term SELL Entry. It was running in profits until the current bullish bounce has been expressed.
Please take into consideration that bullish breakout above 1.2340 will probably enable further advancement towards 1.2700.
On the other hand, another bearish pullback towards the price levels of 1.1750 should be expected for another long-term BUY Entry with initial target around 1.2350.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful
USD/CHF - Tuesday, July 15, 2025. With the Golden Cross condition between EMA(50) and EMA(200) indicates that buyers still dominate, although there is potential for a correction in the near
EUR/USD - Tuesday, July 15, 2025. Although the RSI(14) is at 55.39 (Neutral-Bullish), the EMA(50) is below the EMA(200), indicating that despite the upward retracement, the potential for a continued
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