TipTVFinance

GBP/USD – Pressing into weekly Pivot

FX:GBPUSD   British Pound / U.S. Dollar
Pair’s break above previous day’s high of 1.3091 followed by a rise to the weekly pivot level of 1.3112 adds credence to yesterday’s gains which were driven by the bullish price RSI divergence on the hourly and 4-hr chart.

However, the 5-DMA on the daily chart is still sloping downwards, suggesting this could be a bull trap. As long as the bird is above 1.3091, bulls have little reason to worry.

But buyers need to watch out for a rejection at the pivot point followed by a drop below 1.3091 as such a move could end up taking the pair back to 1.3050.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out