Technicals

Add as a preferred source on Google

GBP/USD pares gains due to weaker than expected GDP, good to sell on rallies

RES 4: 1.5512 (Feb 26th high) RES 3: 1.5350 RES2: 1.5268 (Jan 15th high) RES 1: 1.5200 PRICE: 1.5205@ 09:04 GMT SUP 1: 1.5160 (Resistance turned into support) SUP 2: 1.5125 (20 day 4HMA) SUP 3:1.5090 (23.6% retracement o…

1 min read
EconoTimes — Reading the Times. Understanding the Future.

Read the original article

  • RES 4: 1.5512 (Feb 26th high)
  • RES 3: 1.5350

  • RES2: 1.5268 (Jan 15th high)

  • RES 1: 1.5200

     PRICE: 1.5205@ 09:04 GMT 

  • SUP 1: 1.5160 (Resistance turned into support)

  • SUP 2: 1.5125 (20 day 4HMA)

  • SUP 3:1.5090 (23.6% retracement of 1.4564 and 1.5260)

  • SUP 4: 1.4959 (200 day 4HMA)

GBP/USD has formed double top around 1.5260 and expanded only by 0.3% in the first three months from the prior quarter, weakest pace of growth in more than a year.

On the upside intraday bullishness can be seen above 1. break above will take the pair till 1.5300/1.5348.

 It is good to sell on rallies around 1.5220 for the target of 1.5130 with stop around 1.5270

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560