TipTVFinance

GBP/USD Forecast – 23.6% Fibo stands exposed

FX:GBPUSD   British Pound / U.S. Dollar
  • As expected in the morning update, pair suffered losses after having failed to sustain above 5-DMA. However, the losses were cut short at 1.2850 after news Andrea Leadsom quit Tory leadership race. Theresa May now looks set to be crowned Prime Minister.
  • Pair’s sharp reversal from 1.2850 has kept the bullish price-RSI divergence on the 4-hr chart intact and thus odds of a bullish break from falling channel have increased.
  • Such a move would open doors for a corrective rally to 1.3315 (23.6% of 1.5019-1.2789).
  • On the other hand, another failure at 1.30 if followed by a break below today’s low of 1.2850 would signal a possible break below 1.2789 and further drop to 1.26 handle.

English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
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