GBPUSD Flag pattern || Daily trading analysis
GBP / USD shows the value of the pound against the US dollar. It tells traders how many US dollars are needed to buy a pound sterling. The pound-dollar is one of the oldest and most traded currency pairs in the world. Follow the GBP / USD rate live with the chart and stay updated with the news and analysis of the Pound-Dollar. Plan your operations with the GBP / USD forecast and key pivot point data and support and resistance levels.
The pound sterling has recovered significantly during the negotiation session on Monday, as the leader of the Brexit Party, Nigel Farage, has suggested that a hung parliament is very possible. At this point, people start buying the pound sterling with the hope that the British may soon arrive in the European Union, or at least they will lengthen the situation further. At this time it seems that the 1.30 level will continue to be an important barrier that will take a long time to pass. At this point, it is very unlikely to move forward without some great news, so in the short term it seems that the falls will continue to be bought.
On the downside, the 200-day EMA should offer a lot of support, around the 1.20 level. At this point, the market continues to see a lot of noise between the two areas, but one thing that could be said is that it seems that we are trying to form some kind of bullish flag, and that, of course, is something that every market sees. If the market was the break above the 1.30 level, it could reach the 1.33 level, which is the significant resistance we have seen in the past. At this time, the market could reach the level of 1.38, according to the pole of the bullish flag that we have been forming.
The pound sterling has recovered significantly during the negotiation session on Monday, as the leader of the Brexit Party, Nigel Farage, has suggested that a hung parliament is very possible. At this point, people start buying the pound sterling with the hope that the British may soon arrive in the European Union, or at least they will lengthen the situation further. At this time it seems that the 1.30 level will continue to be an important barrier that will take a long time to pass. At this point, it is very unlikely to move forward without some great news, so in the short term it seems that the falls will continue to be bought.
On the downside, the 200-day EMA should offer a lot of support, around the 1.20 level. At this point, the market continues to see a lot of noise between the two areas, but one thing that could be said is that it seems that we are trying to form some kind of bullish flag, and that, of course, is something that every market sees. If the market was the break above the 1.30 level, it could reach the 1.33 level, which is the significant resistance we have seen in the past. At this time, the market could reach the level of 1.38, according to the pole of the bullish flag that we have been forming.