GBP/USD Price Analysis: Recovers early lost ground, jumps back above 1.2700 mark

avatar
· Views 785

The GBP/USD pair stalled its intraday downfall near the 1.2645 region and has now moved back closer to the top end of its daily trading range.

The emergence of some dip-buying and a subsequent strong positive move of around 80 pips comes on the back of this week's bullish breakthrough a symmetrical triangle. This, in turn, supports prospects for a further near-term appreciating move.

Meanwhile, technical indicators on 4-hourly/daily charts maintained their bullish bias and have again started gaining positive traction on the 1-hourly chart. This adds credence to the positive outlook amid some aggressive US dollar selling bias.

The pair now seems to have found acceptance above the 1.2700 level, though any further move up is likely to confront resistance near the 1.2745 region. Some follow-through buying should pave the way for a move beyond the 1.2800 round-figure mark.

Meanwhile, the 1.2645 area marks a previous strong resistance breakpoint and should now act as a key pivotal point for short-term traders. Failure to defend the mentioned support might prompt some technical selling and accelerate the downfall.

The pair might then accelerate the corrective slide towards the 1.2600 mark before eventually dropping to test the 1.2540-35 support zone. The latter coincides with a 2-1/2-week-old ascending trend-line or the lower end of the symmetrical triangle.

GBP/USD 4-hourly chart

GBP/USD Price Analysis: Recovers early lost ground, jumps back above 1.2700 mark

Technical levels to watch

GBP/USD

OVERVIEW
Today last price 1.2723
Today Daily Change -0.0009
Today Daily Change % -0.07
Today daily open 1.2732
 
TRENDS
Daily SMA20 1.2519
Daily SMA50 1.2464
Daily SMA100 1.2418
Daily SMA200 1.2704
 
LEVELS
Previous Daily High 1.2768
Previous Daily Low 1.265
Previous Weekly High 1.2666
Previous Weekly Low 1.248
Previous Monthly High 1.2813
Previous Monthly Low 1.2252
Daily Fibonacci 38.2% 1.2723
Daily Fibonacci 61.8% 1.2695
Daily Pivot Point S1 1.2665
Daily Pivot Point S2 1.2599
Daily Pivot Point S3 1.2547
Daily Pivot Point R1 1.2783
Daily Pivot Point R2 1.2834
Daily Pivot Point R3

1.2901

 

https://www.fxstreet.com/news/...

면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.

이 글이 마음에 드시나요? 작성자에게 팁을 보내 감사의 마음을 전하세요.
댓글 0

더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.

  • tradingContest