UKOUSD 26 Oct 2023 on the weekly timeframe, it looks like this commodity is still ranging between S1 and R1. experiencing bearish in the previous session, this commodity is trying to initiate bullish after touching S1 to strengthen again towards R1. This is also reinforced by the stochastic indicator which shows strengthening on the chart. Therefore go-long can be an option for traders. But if this commodity is unable to maintain its position and experiences another bearish breach of S1 towards S2, then go-short is an option. Keep an eye on market movements and learn many indicators before making trading decisions.
