TipTVFinance

GBP/USD – Major hurdle seen at 1.2603 - 1.2790

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
We have plotted Fib retracement from Brexit day high and post Brexit low (1.5019-1.2083) and from September high to post Brexit low (1.3445-1.2083).

Note that I am not in favor of plotting retracement on the flash crash low since the exact low is still disputable.

The descending trend line has been breached following the hawkish BOE. Furthermore, the offered tone around USD could remain intact given the drop in the US ISM non-manufacturing employment sub index has triggered speculation of a dismal non-farm payrolls print.

The area around 1.2404 (23.6% of 1.3445-1.2083) is likely to act as a strong support. On the higher side, a major hurdle is seen at 1.2603 (38.2% of 1.3445-1.2083). Above that a confluence of 23.6% of 1.5019-1.2083 and 50-DMA is seen around 1.2790.
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
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 Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out