yantow08
Short

GBP USD Daily analyst moving from 1.2500-1.2400

FX:GBPUSD   British Pound / U.S. Dollar
31 0 6


General overview

The pound strengthened on Thursday in the light of a strong Retail Sales report.

Current situation

The pound extended its gains on Thursday. Traders held the cable around 1.2500 the whole night flirting with the level. Bulls made another attempt to break through post London open. This attempt like the previous ones was unsuccessful. The price continued developing well above the moving averages in the 4 hours chart. The 50 and 100 EMAs pointed higher while the 200-EMA was neutral in the same chart. The resistance lies at 1.2500, the support comes in at 1.2400.
MACD remained at the same level which confirms the strength of buyers. RSI oscillator stayed near overbought levels.

Trading recommendations

If the cable manages to consolidate above the 1.2500 mark the next target for this pair is the resistance level of 1.2600.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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